Lampe, Markus; Sharp, Paul - European Historical Economics Society - EHES - 2013
We consider an example of the impact of a new good on producers of close substitutes: the invention of margarine and … of butter producers. We illustrate this by discussing the different reactions to margarine and quality upgrading in … margarine had a greater impact on the price of poor quality butter than that of high quality butter, presumably because it was a …
