Monopolistic competition and new products: A conjectural equilibrium approach

Francesco Bogliacino; G. Rampa

doi:10.1007/s11403-009-0056-8

Monopolistic competition and new products: A conjectural equilibrium approach

Francesco Bogliacino^*, G. Rampa

^*Autore corrispondente per questo lavoro

Risultato della ricerca: Contributo in rivista › Articolo in rivista › peer review

Abstract

In this paper we generalize the heterogeneous risk adverse agents model of diffusion of new products in a multi-firm, heterogeneous and interacting agents environment. We use a model of choice under uncertainty based on Bayesian theory. We discuss the possibility of product failures, the set of equilibria, their stability and some welfare properties depending on the degree of diversification. © Springer-Verlag 2009.

Lingua originale	English
pagine (da-a)	55-76
Numero di pagine	22
Rivista	Journal of Economic Interaction and Coordination
Volume	5
DOI	https://doi.org/10.1007/s11403-009-0056-8
Stato di pubblicazione	Pubblicato - 2010

Keywords

Lock-in
Monopolistic competition
Risk aversion
Product diffusion
Multiple equilibria

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10.1007/s11403-009-0056-8

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AU - Rampa, G.

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AB - In this paper we generalize the heterogeneous risk adverse agents model of diffusion of new products in a multi-firm, heterogeneous and interacting agents environment. We use a model of choice under uncertainty based on Bayesian theory. We discuss the possibility of product failures, the set of equilibria, their stability and some welfare properties depending on the degree of diversification. © Springer-Verlag 2009.

KW - Lock-in

KW - Monopolistic competition

KW - Risk aversion

KW - Product diffusion

KW - Multiple equilibria

KW - Lock-in

KW - Monopolistic competition

KW - Risk aversion

KW - Product diffusion

KW - Multiple equilibria

UR - http://hdl.handle.net/10807/283876

U2 - 10.1007/s11403-009-0056-8

DO - 10.1007/s11403-009-0056-8

M3 - Article

SN - 1860-711X

VL - 5

SP - 55

EP - 76

JO - Journal of Economic Interaction and Coordination

JF - Journal of Economic Interaction and Coordination

ER -

Monopolistic competition and new products: A conjectural equilibrium approach

Abstract

Keywords

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