Problem
1. What is a heuristic model? Can a heuristic model be traditional? Why or why not?
2. Even though the Betamax format for videos is believed to have been better than the VHS format, early market leadership by VHS established VHS as the dominant choice for videocassette recorders. Some argue that if Betamax had an early lead, it would have been the dominant technology. What kind of equilibrium model best fits this description and why?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.