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Unformatted text preview: In-Text CitationLarge size will allow to obtain brand recognition at a lower cost . This is a special type of cost-based economies of scale, related to marketing costs per unit of product sold. Challenged by the successes of the open source movement, the commercial software corporations may employ one of the following two strategies. Recent decades have seen a massive expansion in the use of credit cards as a transactional medium. Some commentators have incorrectly ascribed this explosion to the efforts of deregulated card issuers to push credit cards on unsuspecting consumers. This argument lacks merit and will be discussed in some detail below. Many economists have argued that a combination of market forces (competition and arbitrage) plus evolution should produce a world similar to that described in an economics textbook: do only the rational agents survive? Because organization theory was unfamiliar terrain to most economists and because few economists perceived value-added in the proximate lessons of organization theory,...
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- Spring '12