The paradox of networks and market acceptance.
7/7/2003
If we live in a networked world, why is it that innovative products or services can have slow acceptance? The answer is a paradox, according to the author. We buy things if we think other people will buy them. In markets with strong interconnections among participants, this "equilibrium" (an idea developed by John Forbes Nash of A Beautiful Mind fame), actually slows adoption and protects the status quo. With this recognition, the best strategy is to work backwards, identifying the goal and then working with "influencers" to popularize the innovation across the network.