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different types of market structure, ranging from monopoly or oligopoly to monopolistic competition through new types of market … structure. In particular, we find conditions under which the free entry and exit of small firms incentivizes big firms to sell …
Persistent link: https://www.econbiz.de/10012945413
We provide a selective survey of what has been accomplished under the heading of monopolistic competition in industrial organization and other economic fields. Among other things, we argue that monopolistic competition is a market structure in its own right, which encompasses a much broader...
Persistent link: https://www.econbiz.de/10012988966
function to guarantee empirically relevant properties of a free-entry equilibrium. Comparative statics with respect to market …
Persistent link: https://www.econbiz.de/10013000823
conditions on this function to guarantee the existence and uniqueness of a free-entry equilibrium. Our model is able to mimic …
Persistent link: https://www.econbiz.de/10011488249
We show that a wide class of demand systems for differentiated products, such as those generated by additive preferences, indirectly additive preferences, and Kimball-like homothetic preferences, can be given a multinomial logit foundation provided that the conditional indirect utility is...
Persistent link: https://www.econbiz.de/10012990100
We propose a general model of monopolistic competition and derive a complete characterization of the market equilibrium using the concept of Relative Love for Variety. When the RLV increases with individual consumption, the market generates pro-competitive effects. When it decreases, the market...
Persistent link: https://www.econbiz.de/10009025332
We develop an equilibrium model of industrial structure in which the organization of firms is endogenous. Differentiated consumer products can be produced either by vertically integrated firms or by pairs of specialized companies. Production of each variety of consumer good requires a unique,...
Persistent link: https://www.econbiz.de/10011398409
competition eff_x001B_ect. Firms' profi_x001C_ts increase (decrease) with the entry of local competitors when the former (latter …
Persistent link: https://www.econbiz.de/10011488298
We develop an equilibrium model of industrial structure in which the organization of firms is endogenous. Differentiated consumer products can be produced either by vertically integrated firms or by pairs of specialized companies. Production of each variety of consumer good requires a unique,...
Persistent link: https://www.econbiz.de/10013320961
higher toughness of the market, the entry of bigfirms leads them to sell more through a market expansion effect, which is … because the procompetitive effect associated with the entry of a big firm dominates theresulting decrease in product variety.... …
Persistent link: https://www.econbiz.de/10005868639