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Consumers desire tech products that synchronize, creating network effects.

Economies of Scale in the Tech Industry: How Big Tech Firms Achieve Dominance through Network Expansion

Despite the popular story of the gifted programmer who creates a new game or program, most of the tech industry is dominated by large oligopolies. Why do these few giants stay dominant?...
5 min read
Market failure
Definitions

Market failure

Saddique Ansari • January 28, 2020 • 1 min read

Author bio

Market failure – definition

A market failure is a situation where free markets fail to allocate scarce resources efficiently. These can be complete or partial.

  • Markets work well when certain conditions are met.

  • Read more on market failures.

 

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British Airways plane taking off.

Price Discrimination in the Airline Industry: A Study of Dynamic Pricing Strategies

Airlines now regularly use dynamic pricing - changing the price of each seat based on factors like desired comfort and service, the time and date of a flight, and how full a flight is at the time of booking....
4 min read

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