OPEN VERSUS CLOSED FIRMS AND THE DYNAMICS OF INDUSTRY EVOLUTION*
构建了一个产业演化模型，分析企业选择封闭标准或开放标准对进入、退出和长期均衡的影响。研究发现封闭企业进入概率随价格下降而降低，最终开放企业更可能进入；初期封闭企业生存率更高，但价格低于阈值后情况反转。
We develop a model of industry evolution in which firms choose proprietary standards (closed firm) or adopt a common standard (open firm). A closed entrant can capture multiple profits whereas an open entrant faces lower entry barriers: The odds of closed entry (relative to open entry) decrease with price and eventually open entry becomes more likely. While initially closed firms have better survival because they can offset losses in one component with profits from another, the situation is reversed when prices fall below a threshold. These entry and exit dynamics can lead the industry away from its long run equilibrium.