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This paper develops a novel approach to modeling references in monopolistic competition models with a continuum of goods. In contrast to the commonly used CES preferences, which do not capture the effects of consumer income and the intensity of competition on equilibrium prices, the present...
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competitors in the market is low to begin with, but in higher prices when the number of competitors is large. Moreover, duopoly …
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are of monopolistic structure. Moreover, a monopoly-duopoly model is considered, where only the reader market is …
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There is strong evidence that different income groups consume different bundles of goods. This evidence suggests that trade liberalization can affect welfare inequality within a country via changes in the relative prices of goods consumed by different income groups (the price effect). In this...
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