Competition in Multi-Characteristics Spaces: Hotelling Was Almost Right
Lancasterian models of product differentiation typically assume a one-dimension characteristics space. We show that standard results on prices and locations no longer hold when firms compete in a multi- characteistics space.
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|Date of creation:||May 1996|
|Date of revision:|
|Publication status:||Published in Journal of Economic Theory, vol.78 (1), January 1998, pp. 76-102|
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