Competition in Multi-Characteristics Spaces: Hotelling Was Almost Right

Lancasterian models of product differentiation typically assume a one-dimension characteristics space. We show that standard results on prices and locations no longer hold when firms compete in a multi- characteistics space.

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Year of publication:	1996-05
Authors:	IRMEN, Andreas ; THISSE, Jean-François
Institutions:	Départment d'économétrie et d'économie politique (DEEP), Faculté des Hautes Études Commerciales (HEC)
Subject:	product positioning \| multi-characteristic space

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Series:	Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP).
Type of publication:	Book / Working Paper
Notes:	Published in Journal of Economic Theory, vol.78 (1), January 1998, pp. 76-102 36 pages
Classification:	L1 - Market Structure, Firm Strategy, and Market Performance ; R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location ; M3 - Marketing and Advertising
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005481747