Multi-dimensional Product Differentiation and Price Competition
AbstractThe authors present a framework for analyzi ng the design and pricingof differentiated products. Their approach has two nov el features. Individuals have Cobb-Douglas preferences over multidimensional pro duct characteristics. The distribution of Cobb-Douglas parameters across society is concave: this implies that there is general agreement about which characteri stic mix is most desirable. With these assumptions the authors demonstrate exist ence of a pure strategy price equilibrium for arbitrary pairs of products in two dimensions and also show how raising the dimensionality of the product space pr ovides an advantage to a late entrant in a price- regulated duopoly. Copyright 1986 by Royal Economic Society.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Economic Papers.
Volume (Year): 38 (1986)
Issue (Month): 0 (Suppl. Nov.)
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- Marcella Scrimitore, 2003. "Symmetric and Asymmetric Equilibria in a Spatial Duopoly," ERSA conference papers ersa03p194, European Regional Science Association.
- Andrew Caplin & Barry Nalebuff, 1990.
"Aggregation and Imperfect Competition: On the Existence of Equilibrium,"
Cowles Foundation Discussion Papers
937, Cowles Foundation for Research in Economics, Yale University.
- Caplin, Andrew & Nalebuff, Barry, 1991. "Aggregation and Imperfect Competition: On the Existence of Equilibrium," Econometrica, Econometric Society, vol. 59(1), pages 25-59, January.
- Caplin, A. & Nalebuff, B., 1989. "Aggregation And Imperfect Competition: On The Existence Of Equilibrium," Discussion Papers 1989_30, Columbia University, Department of Economics.
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