Winner take all: Competition, strategy, and the structure of returns in the internet economy
In this paper, we develop an economic rationale for the following stylized fact: Web-based firms spend profligately on advertising and marketing and usually lose money. Our rationale is based on the winner-take-all structure of high fixed cost, low marginal cost, markets for information goods. This...
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| Fformat: | Journal article |
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2005
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