35 Prior to rumors of the acquisition, Intuit’s stock traded at 40 3/4. John Eckhouse, Giant Microsoft Buys Intuit to own $1.5 Mil, San Francisco Chronicle, Oct. 14, 1994, at A1, A19. 336 Microsoft shares at the closing. Id. Based on Microsoft’s January 3, 1995 closing price of 60 3/16, each Intuit share receives over $80.
36 Select Brian Livingston, Undocumented Window Phone calls, InfoWorld, Nov. 16, 199″2, at 98 (Ex. 19); Doug Barney and Ilan Greenberg, ISVs Dampen Microsoft Furor for OLE, InfoWorld, July 18, 1994, at 1.
38 Microsoft made multiple presentations within the country that particularly get this to area and you may composed files because of these presentations has been provided to brand new Fairness Department.
39 For a more thorough discussion, see Miles B. Keyhoe, , HP Professional, Aug. 1994, at 40 (Ex. 17). Pick along with Microsoft Corporation, House windows NT and you can Customer-Server Measuring, May 1993.
42 “Installed base” in the economic literature “means the number of owners of a good who may be dependent on the manufacturer of the good for the provision of complementary goods.” Joseph Katten, Industry Electricity throughout the Presence away from an installed Legs, 62 Antitrust L.J. 1, 4 (1993).
43 Joseph Farrell and Garth Saloner, Installed Legs and Being compatible: Invention, Unit Pre-Announcements, and Predation, Amer. Econ. Rev., Dec. 1986, at 940; Janusz A. Ordover and Garth Saloner, Predation, Monopolization, and you may Antitrust, in Handbook regarding Commercial Organization 537, 565 (R. C. Schmalensee and R. Willis eds., 1989).
46 Come across, age.g., Paul A. David, Clio plus the Economics out of QWERTY, Amer. Econ. Rev., May 1985, at 332; David A. Harvey, Change is needed – Today!, Byte, Oct. 1, 1991, at 119.
48 Joer. Econ. Rev., Dec. 1986, supra, at 942; Jean Tirole, The concept out-of Industrial Providers at 405, n.40 (1988)
51 For the theoretical literature see, for example, the recent Symposium into System Externalities in the Journal of Economic Perspectives, Spring 1994, the Symposium for the Being compatible, edited by Richard Gilbert in the Journal of Industrial Economics, March 1992, and the survey by Paul David and Shane Greenstein in the Economics of Innovation and New Technology, 1990. For an application to telecommunications, see Stanley Besen and Garth Saloner, This new Business economics of Correspondence Standards, into the Changing the rules: Scientific Alter, International Battle, and Controls inside-Telecommunications 177 (1989); for applications to broadcasting, see Stanley Besen and Leland Johnson, Compatibility Requirements, Race, and you may Creativity on the Broadcasting Industry (1986); for applications to ATMs, see Garth Saloner and Andrea Shepard, forthcoming in the Rand Journal of Economics, and Steven Salop, Deregulating Worry about-Managed Mutual Automatic teller machine Networking sites, Econ. of Innov. and New Tech., 1990; and for computers, see Garth Saloner, Econ. Innov. New Tech., 1990, supra.
52 This “network effect” has been described by numerous authors. In a recent Symposium in the Journal of Economic Perspectives, Michael Katz and Carl Shapiro write, “Consequently, as has long been recognized, the demand for a network good is a function of both its price, and the expected size of the network.” See also Jeffrey Rohlfs, A concept from Interdependent Need for a call Service, Bell J. of Econ., Spring 1974, for an early reference, as well as Michael Katz and Carl Shapiro, Network Externalities, Competition, and you may Being compatible, Amer. Econ. Rev., er. Econ. Rev., Dec. 1986, supra: and other papers cited in Michael If, am and Carl Shapiro, Options Competition and Community Outcomes, J. of Econ. Perspectives, Spring 1994.
53 See Julio J. Rotemberg and Garth Saloner, Interfirm Competition and you may Collaboration, Strategic Options, 1991, for an example of the power of network size.