Economics of Interoperability and Standards

Interoperability is a fundamental issue across virtually all modern technological systems. Companies and consumers that adopt new technologies want those products and services to work cohesively together both physically (for example with port and plug compatibility) and digitally (for example with data file format readability). The challenge of achieving interoperability is in part a technological one, but often the real obstacles for interoperability are economic in nature. While creating interoperable technologies may generate significant value for users, if they are unable to capture that value, companies may not be willing to push for the interoperability of their products.

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Economics of Interoperability and Standards