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Monopolistic Competition Without Apology

Listed author(s):
  • Jacques-Francois Thisse

    ()

  • Philip Ushchev

    ()

    (National Research University Higher School of Economics)

We provide a selective survey of what has been accomplished under the heading of monopolistic competition in industrial organization and other economic elds. Among other things, we argue that monopolistic competition is a market structure in its own right, which encompasses a much broader set-up than the celebrated constant elasticity of substitution (CES) model. Although oligopolistic and monopolistic competition compete for adherents within the economics profession, we show that this dichotomy is, to a large extend, unwarranted.

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File URL: https://www.hse.ru/data/2016/06/15/1117427445/141EC2016.pdf
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Paper provided by National Research University Higher School of Economics in its series HSE Working papers with number WP BRP 141/EC/2016.

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Length: 52 pages
Date of creation: 2016
Publication status: Published in WP BRP Series: Economics / EC, June 2016, pages 1-52
Handle: RePEc:hig:wpaper:141/ec/2016
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