Exploration and exploitation in the presence of network externalities

This paper examines the conditions under which exploration of a new, incompatible technologyis conducive to firm growth in the presence of network externalities. In particular, this studyis motivated bythe divergent evolutions of the PC and the workstation markets in response to a new technology: reduced instruction set computing (RISC). In the PC market, Intel has developed new microprocessors bymaintaining compatibilitywith the established architecture, whereas it was radicallyr eplaced byRISC in the workstation market. History indicates that unlike the PC market, the workstation market consisted of a large number of power users, who are less sensitive to compatibilitythan ordinaryusers. Our numerical analysis indicates that the exploration of a new, incompatible technologyis more likelyto increase the chance of firm growth when there are a substantial number of power users or when a new technologyis introduced before an established technologytakes off. (; ; ;

Assessing the application of miscible CO2 flooding in oil reservoirs: a case study from Pakistan

Miscible carbon dioxide (CO2) flooding has been recognized as a promising approach to enhance the recovery of oil reservoirs. However, depending on the injection strategy and rock/fluid characteristics, efficiency of the miscible CO2flooding varies from reservoir to reservoir. Although, many studies have been carried out to evaluate the performance of the miscible CO2flooding, a specific strategy which can be strictly followed for a hydrocarbon reservoir has not been established yet. The aim of this study is to assess one of Pakistan’s oil reservoirs for miscible CO2flooding by applying a modified screening criterion and numerical modeling. As such, the most recent miscible CO2screening criteria were modified, and a numerical modeling was applied on the prospective reservoir. Based on the results obtained, South oil reservoir (S3) is chosen for a detailed assessment of miscible CO2flooding. It was also found that implementation of CO2water-alternating gas (CO2-WAG) injection at early stages of production can increase the production life of the reservoir

The Dynamic 'Diamond': A Technological Innovation Perspective

A firm's local environment can constitute a source of national or regional cornpetitive advantage. An important question, therefore, is how these environments come about and how they can be lost. In this paper, we argue that a local environment is a function of the process of technological evolution. It is a function of how certain initial and prevailing conditions, the type of innovation, and chance events, influence the processes of uncertainty resolution, capabilities building, and survivor selection that are characteristic of technological evolution. We also argue that a region can lose its advantage when a dominant design emerges or when a technological discontinuity obsoletes the localized technological capabilities of not only manufacturers, but also of their suppliers, customers and related industries. The environment is dynamic as firms and nations, in response to their performances, also influence it by changing their strategies or policies.Technological evolution, uncertainty resolution, dominant design, local environment J.E.L. Classification: 031, 032, 033,