Imagine several firms competing to make the next generation of some product, like a lawn mower or cell phone. What factors influence variance in their product quality (relative to cost)? That is, how much better will the best firm be relative to the average, second best, or worst? Larger variance factors should make competitors worry more that this round of competition will be their last. Here are a few factors:
Friendliness Factors
Friendliness Factors
Friendliness Factors
Imagine several firms competing to make the next generation of some product, like a lawn mower or cell phone. What factors influence variance in their product quality (relative to cost)? That is, how much better will the best firm be relative to the average, second best, or worst? Larger variance factors should make competitors worry more that this round of competition will be their last. Here are a few factors:
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