Product standards, innovation and regulation

This paper examines the public policy issues associated with product standardization. It addresses three main questions:
1. Do laissez faire markets provide an appropriate level of compatibility and standardization?
2. Does standardization result in anti-competitive behaviour?
3. Does standardization promote or retard innovation?
The theoretical debate surrounding each of these issues is briefly reviewed. The process of setting standards with respect to high definition television technology is examined and used to illustrate the problems facing regulators. The paper concludes that, in the case of high definition television, the US market-based approach to standard setting has been more successful than has the more directly interventionist approaches adopted in Europe and Japan.

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Keywords:

High definition television, Product standardization, Public policy, Regulators, Standardization

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Language(s):English
AuthorsJordan, Judith (Bristol Business School, University of West England, UK)
Publisher:Routledge - Taylor & Francis Group
Keywords:High definition television, Product standardization, Public policy, Regulators, Standardization
Last update:1994