Customization: Ideal Varieties, Product Uniqueness and Price Competition
We study customization in the Hotelling model with two firms. In addition to providing ideal varieties, the perceived uniqueness of a customized product contributes independently to consumer utility. We show that only when consumer preferences for uniqueness are high customization occurs in equilibrium.
Volume (Year): 29 (2009)
Issue (Month): 4 ()
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- Alexei Alexandrov, 2006.
1435, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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- Oksana Loginova & X. Henry Wang, 2011.
"Customization with Vertically Differentiated Products,"
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- Oksana Loginova & X. H. Wang, 2009. "Customization with Vertically Differentiated Products," Working Papers 0903, Department of Economics, University of Missouri.
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- Rajiv Dewan & Bing Jing & Abraham Seidmann, 2003. "Product Customization and Price Competition on the Internet," Management Science, INFORMS, vol. 49(8), pages 1055-1070, August.
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- Nan Xia & S. Rajagopalan, 2009. "Standard vs. Custom Products: Variety, Lead Time, and Price Competition," Marketing Science, INFORMS, vol. 28(5), pages 887-900, 09-10.
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