Networks and growth

posted by
June 14, 2011
by Bryan Caplan  
Posted in Commentary

"When more people use a product, firms have a stronger incentive to improve it. For some products, however, having more users is an improvement. We call them 'network products.' Phones are the classic example; they're useless unless other people have them, too. As the Fourth Sector expands, network products have become ever more common." (06/13/11)  

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