Bandwagon Effects in High-Technology Industries
Looky Rating System: Violence 0/5, Love & Romance 0/5, Mental Health 0/5, Language 0/5, Substance Use 0/5, Fear / Horror 0/5, Fantasy / Supernatural 0/5, LGBTQ+ Representation 0/5.
Description
Chosen as a finalist in ForeWord Magazine’s 2001 Book of the Year Awards (BOTYA) in the category of Business. Economists use the term "bandwagon effect" to describe the benefit a consumer enjoys as a result of others’ using the same product or service. The history of videocassettes offers a striking example of the power of bandwagon effects. Originally there were two technical standards for videocassettes in the United States: Beta and VHS.