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Oligopolistic Competition and the Optimal Provision of Products

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Author Info
Anderson, Simon P
de Palma, Andre
Nesterov, Yurii

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Abstract

This paper reconsiders the theory of market versus optimal product diversity using a discrete choice approach to product differentiation. The authors analyze oligopoly with price competition and free entry with integer firm numbers. Under the Chamberlinian symmetry assumption, they show that log-concavity of the taste density function implies excessive market provision of diversity when each consumer buys one unit. This result is extended to price-sensitive individual demands by proving that the equilibrium number of firms exceeds that provided at the second-best optimum subject to zero profits. Copyright 1995 by The Econometric Society.

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Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 63 (1995)
Issue (Month): 6 (November)
Pages: 1281-1301
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Handle: RePEc:ecm:emetrp:v:63:y:1995:i:6:p:1281-1301

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  1. Hemanta Shrestha & Dennis Heffley, 2003. "Regional Integration and Industrial Location in a Landlocked Spatial Economy," Working papers 2003-07, University of Connecticut, Department of Economics. [Downloadable!]
  2. ANDERSON, Simon & de PALMA, AndrŽ, 2003. "Price dispersion," CORE Discussion Papers 2003032, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
    Other versions:
  3. Richard Arnott, 1997. "Rent Control," Boston College Working Papers in Economics 391., Boston College Department of Economics. [Downloadable!]
  4. Andre dePalma & Karim Kilani, 2000. "The Optimal of Provision of Products with Income Effects," Econometric Society World Congress 2000 Contributed Papers 1299, Econometric Society. [Downloadable!]
  5. DE PALMA, AndrŽ & PROOST, Stef, 2005. "Imperfect competition and congestion in the city," CORE Discussion Papers 2005003, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
    Other versions:
  6. David P. Myatt & Justin P. Johnson, 2005. "Multiproduct Cournot Oligopoly," Economics Series Working Papers 145, University of Oxford, Department of Economics. [Downloadable!]
    Other versions:
  7. Simon P. Anderson & André de Palma, 2000. "Product Diversity in Asymmetric Oligopoly: Is the Quality of Consumer Goods too Low?," Virginia Economics Online Papers 349, University of Virginia, Department of Economics. [Downloadable!]
    Other versions:
  8. David Laibson & Xavier Gabaix, 2004. "Competition and Consumer Confusion," Econometric Society 2004 North American Summer Meetings 663, Econometric Society. [Downloadable!]
  9. Xavier Gabaix & David Laibson & Hongyi Li, 2005. "Extreme Value Theory and the Effects of Competition on Profits," Levine's Bibliography 784828000000000656, UCLA Department of Economics. [Downloadable!]
  10. Simon P. Anderson & Regis Renault, 1999. "Pricing, product diversity, and search costs: a Bertrand-Chamberlin-Diamond model," Virginia Economics Online Papers 335, University of Virginia, Department of Economics. [Downloadable!]
    Other versions:
  11. A. de Palma & K. Kilani, 2003. "Compensating Variation for Discrete Choice Models," THEMA Working Papers 2003-02, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise. [Downloadable!]
  12. Steven T. Berry & Joel Waldfogel, 1999. "Mergers, Station Entry, and Programming Variety in Radio Broadcasting," NBER Working Papers 7080, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  13. DE PALMA, AndrŽ & KILANI, Karim, 2003. "(Un)conditional distribution of compensating variation in discrete choice models," CORE Discussion Papers 2003100, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
  14. Steven Berry & Joel Waldfogel, 1996. "Free Entry and Social Inefficiency in Radio Broadcasting," NBER Working Papers 5528, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  15. Simon P. Anderson & André de Palma, 2003. "Market Performance With Multiproduct Firms," Virginia Economics Online Papers 357, University of Virginia, Department of Economics. [Downloadable!]
  16. Arijit Mukherjee & Udo Broll & Soma Mukherjee, . "The welfare effects of entry: the role of the input market," Discussion Papers 08/12, University of Nottingham, School of Economics. [Downloadable!]
  17. A. de Palma & O. Sanchez, 1998. "Accessibilité dans un système de transport en environnement concurrentiel," THEMA Working Papers 98-04, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise. [Downloadable!]
    Other versions:
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