Taste for Variety and Optimum Product Diversity in an Open Economy
AbstractWe extend the Benassy (1996) 'taste for variety' model to an open economy setting. With the Benassy effect, the market equilibrium is inefficient, openness reduces the varieties provided in the unconstrained optimum and there are potential gains from international coordination.
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Bibliographic InfoPaper provided by Department of Economics, University of Kent in its series Studies in Economics with number 0508.
Date of creation: Oct 2005
Date of revision:
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Postal: Department of Economics, University of Kent at Canterbury, Canterbury, Kent, CT2 7NP
Phone: +44 (0)1227 764000
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Other versions of this item:
- Javier Coto-Martínez & María D. C. García-Alonso & Paul Levine, 2009. "Taste For Variety And Optimum Product Diversity In An Open Economy," Bulletin of Economic Research, Wiley Blackwell, vol. 61(2), pages 127-138, 04.
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-10-29 (All new papers)
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