Preferences, entry, and market structure.
We provide a unified approach to imperfect (monopolistic, Bertrand, and Cournot) competition when preferences are symmetric over a finite but endogenous number of goods. Markups depend on the Morishima elasticity of substitution and on the number of varieties. The comparative statics of free-entry e...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 47; no. 4; pp. 792 - 822 |
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| Autores principales: | , |
| Formato: | Artículo |
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Wiley-Blackwell
Winter2016
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=119457558&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 119457558 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 07416261 56RJ jtl: RAND Journal of Economics (Wiley-Blackwell) issn: 07416261 maglogo: Y pubinfo: dt: Winter2016 vid: 47 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 119457558 10.1111/1756-2171.12155 ppf: 792 ppct: 30 formats: fmt: – @attributes: type: T – @attributes: type: P size: 268KB tig: atl: Preferences, entry, and market structure. aug: au: Bertoletti, Paolo Etro, Federico affil: University of Pavia University of Venice Ca' Foscari su: Market entry Industrial productivity Economic competition Elasticity (Economics) Market design & structure (Economics) sug: subj: Market entry Industrial productivity Economic competition Elasticity (Economics) Market design & structure (Economics) ab: We provide a unified approach to imperfect (monopolistic, Bertrand, and Cournot) competition when preferences are symmetric over a finite but endogenous number of goods. Markups depend on the Morishima elasticity of substitution and on the number of varieties. The comparative statics of free-entry equilibria is examined, establishing the conditions for markup neutrality with respect to income, market size, and productivity. We compare endogenous and optimal market structures for several non-CES examples. With a generalized linear direct utility, the markup can be constant and optimal under monopolistic competition, and nonmonotonic in the number of firms under Bertrand or Cournot competition. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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