Shakeouts in Digital Markets: Lessons from B2B Exchanges
研究了数字市场中洗牌现象的发生机制，指出繁荣期过度竞争和泡沫破裂导致超过80%的企业退出，对理解互联网泡沫和B2B市场演变有参考价值。
Shakeouts loom large in the landscape of all fast-growing markets. During the boom period, an unsustainable glut of competitors is attracted by forecasts of high growth and promises of exceptional returns. Even when the market is already crowded, more entrants keep arriving. These followers are often naïve about the barriers to entry and don't realize how many others are also poised to enter at the same time. Reality intrudes with a bust that precipitates the exit of more than 80 percent of the players through failure or acquisition. This shakeout is triggered by some combination of disappointing growth, pricing pressures that degrade profit prospects, or shortages of crucial people and financial resources.