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Economic Theories of Product Differentiation

Author

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  • Gabszewicz, Jean J.

    (Université catholique de Louvain, LIDAM/CORE, Belgium)

Abstract

This book provides a comprehensive exploration of product differentiation, blending insights from industrial organization, spatial economics, and game theory. In modern economies, nearly every product—from consumer electronics to household goods—comes in multiple variants, reflecting firms' strategic efforts to differentiate their offerings. But why do firms differentiate their products? How do they set prices for these variants? And does this process lead to an efficient market outcome? It examines both horizontal and vertical differentiation, investigating how firms compete not only on price but also on product characteristics such as location, quality, and perceived value. Special attention is given to the role of network effects, industry structure, and monopolistic competition, shedding light on how differentiation influences market dynamics.

Suggested Citation

  • Gabszewicz, Jean J., 2026. "Economic Theories of Product Differentiation," LIDAM Reprints CORE 3354, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:3354
    DOI: https://doi.org/10.1007/978-3-031-95563-1
    Note: Springer, 2025. - ISBN 978-3-031-95562-4
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