Increase the understanding of why a dominant design emerges and why it is not always the most technological superior design that becomes dominant.Identify the primary sources of increasing returns and network externalities.Identify the tools needed to determine whether “winner-take-all” markets are good for consumers.

4.1 Learning Outcomes:Increase the understanding of why a dominant design emerges and why it is not always the most technological superior design that becomes dominant.Identify the primary sources of increasing returns and network externalities.Identify the tools needed to determine whether “winner-take-all” markets are good for consumers.Understand the multidimensional model for assessing the value of a technology to buyers.Understand the relationship between network externalities, modularity, and platform competition.4.2 Action Required:Watch the short video in the following link 4.3 Test your Knowledge (Question):Q. Write a short note on platform ecosystem