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Product differentiation and competitive selection

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Author Info

  • Serguei Kaniovski

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Abstract

By studying the effect of different patterns of demand in an evolutionary selection model this paper shows how product differentiation reduces competitive selection pressure and thus increases the chances for the coexistence of firms. With the example of a duopoly it shows that: (1) a monopoly is the likely outcome of competition in homogeneous products, (2) although product differentiation does not preclude a monopoly it greatly improves the chances for the stable coexistence of firms in the long run, and (3) the more differentiated the products, the more stable the duopoly. Copyright Springer-Verlag Berlin/Heidelberg 2005

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File URL: http://hdl.handle.net/10.1007/s00191-005-0268-6
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Bibliographic Info

Article provided by Springer in its journal Journal of Evolutionary Economics.

Volume (Year): 15 (2005)
Issue (Month): 5 (November)
Pages: 567-580

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Handle: RePEc:spr:joevec:v:15:y:2005:i:5:p:567-580

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Related research

Keywords: Product differentiation; Selection; Market niche;

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References

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  1. Witold Kwasnicki, 2002. "Evolutionary models’ comparative analysis. Methodology proposition based on selected neo-schumpeterian models of industrial dynamics," Microeconomics 0203002, EconWPA.
  2. Arifovic, Jasmina, 2000. "Evolutionary Algorithms In Macroeconomic Models," Macroeconomic Dynamics, Cambridge University Press, vol. 4(03), pages 373-414, September.
  3. Richard R. Nelson, 1995. "Recent Evolutionary Theorizing about Economic Change," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 48-90, March.
  4. Silverberg, Gerald & Dosi, Giovanni & Orsenigo, Luigi, 1988. "Innovation, Diversity and Diffusion: A Self-organisation Model," Economic Journal, Royal Economic Society, vol. 98(393), pages 1032-54, December.
  5. Silverberg,Gerald, 1997. "Evolutionary modeling in economics : recent history and immediate prospects," Research Memorandum 008, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
  6. Kwasnicki, Witold & Kwasnicka, Halina, 1992. "Market, innovation, competition: An evolutionary model of industrial dynamics," Journal of Economic Behavior & Organization, Elsevier, vol. 19(3), pages 343-368, December.
  7. repec:cup:macdyn:v:4:y:2000:i:3:p:373-414 is not listed on IDEAS
  8. Eaton, B Curtis & Lipsey, Richard G, 1979. "The Theory of Market Pre-emption: The Persistence of Excess Capacity and Monopoly in Growing Spatial Markets," Economica, London School of Economics and Political Science, vol. 46(182), pages 149-58, May.
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Citations

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Cited by:
  1. Werner Hölzl, 2012. "Mobility Barriers and the Speed of Market Selection," WIFO Working Papers 437, WIFO.
  2. Erik Brouwer & Tom Poot & Kees Montfort, 2008. "The Innovation Threshold," De Economist, Springer, vol. 156(1), pages 45-71, March.

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