Single-price equilibrium with product differentiation: Effects of entry

This paper discusses the effects of entry in a single-price equilibrium with product differentiation. Product differentiation is viewed mainly from consumer preferences and valuations, which in turn are expressed in consumers' perceived prices. The model includes varying consumer preferences an...

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Published in:Journal of economic behavior & organization 1993, Vol.20 (1), p.79-97
Main Author: Hung, Chao-Shun
Format: Article
Language:English
Subjects:
Consumption function
Economic theory
Impacts
Market entry
Market equilibrium
Prices
Product differentiation
Profits
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description This paper discusses the effects of entry in a single-price equilibrium with product differentiation. Product differentiation is viewed mainly from consumer preferences and valuations, which in turn are expressed in consumers' perceived prices. The model includes varying consumer preferences and valuations in a preferred brand. Within this simplified framework, the paper shows that, under certain types of individual demands, entry into stable equilibria may result in higher prices. The effects of entry on profits are also discussed.
doi_str_mv 10.1016/0167-2681(93)90082-Z
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source Applied Social Sciences Index & Abstracts (ASSIA); International Bibliography of the Social Sciences (IBSS); ScienceDirect: Economics, Econometrics & Finance Backfile; Backfile Package - Business, Management and Accounting (Legacy) [YBT]
subjects Consumption function
Economic theory
Impacts
Market entry
Market equilibrium
Prices
Product differentiation
Profits
title Single-price equilibrium with product differentiation: Effects of entry
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