Models of product differentiation try to provide answers to the question which good will be provided in an imperfectly competitive market and how it will be priced. in such models consumers have been modeled as buying one unit of one good in the market. I construct counterparts to frequently used models of product differentiation in which consumers have unit-elastic demand, provide conditions which guarantee the existence of a unique price equilibrium, and characterize the unique subgame perfect equilibrium of the two-stage game in which firms first specify products and then compete in prices.
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Paper provided by Valencia - Instituto de Investigaciones Economicas in its series Papers with number
98-18.
Find related papers by JEL classification: D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
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