Location Models of Horizontal Differentiation: A Special Case of Vertical Differentiation Models
AbstractThe authors study the relationship that exists between two families of models of product differentiation: the class of location or Hotelling-type models of horizontal differentiation, and models of vertical differentiation. Their main result is that every model belonging to a very large class of Hotelling-type models (including all the commonly used specifications) is actually a special case of a vertical product differentiation model. Formally speaking this means that the Hotelling type-model and the corresponding vertical product differentiation model are equivalent. Specifically, the authors show that the equilibria emerging in the two categories of models are identical in a well defined sense. Copyright 1991 by Blackwell Publishing Ltd.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Journal of Industrial Economics.
Volume (Year): 39 (1991)
Issue (Month): 4 (June)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821
Other versions of this item:
- CREMER, Helmuth & THISSE, Jacques-François, . "Location models of horizontal differentiation: a special case of vertical differentiation models," CORE Discussion Papers RP -931, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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