Text-Based Network Industries and Endogenous Product Differentiation¶
Hoberg, G., & Phillips, G. (2016). Text-Based Network Industries and Endogenous Product Differentiation. Journal of Political Economy, 124(5), 1423-1465.
Cited by¶
1 citation across 1 artifact.
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Primes¶
- Category Retrieval Lock In
- Two further inferences concern dynamics and cost. Update lag: when the substrate's properties change but the label does not, the retrieval system keeps returning the old profile, which is why a person, firm, or codebase can be misclassified at scale for years after the underlying properties have evolved.
This sourceShows that fixed SIC/NAICS industry classifications fail to track firms whose products evolve, motivating annually-updated text-based classifications — the stale-label / update-lag failure where a retrieval system keeps returning an outdated profile after the substrate's properties have changed.
- Two further inferences concern dynamics and cost. Update lag: when the substrate's properties change but the label does not, the retrieval system keeps returning the old profile, which is why a person, firm, or codebase can be misclassified at scale for years after the underlying properties have evolved.
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Registry ID ref:95dff85b3ae7 · see in the full table