| 来源类型 | FEEM working papers "Note di lavoro" series
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| 规范类型 | 论文
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| Price Competition in Product Variety Networks |
| Philip Ushchev; Yves Zenou
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| 发表日期 | 2016
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| 出处 | Economic Theory
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| 出版年 | 2016
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| 语种 | 英语
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| 摘要 | We develop a product-differentiated model where the product space is a network defined as a set of varieties (nodes) linked by their degrees of substitutability (edges). We also locate consumers into this network, so that the location of each consumer (node) corresponds to her “ideal” variety. We show that, even though prices need not to be strategic complements, there exists a unique Nash equilibrium in the price game among firms. Equilibrium prices are determined by both firms’ sign-alternating Bonacich centralities and the average willingness to pay across consumers. They both hinge on the network structure of the firm-product space. We also investigate how local product differentiation and the spatial discount factor affect the equilibrium prices. We show that these effects non-trivially depend on the network structure. In particular, we find that, in a star-shaped network, the firm located in the star node does not always enjoy higher monopoly power than the peripheral firms.
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Suggested citation: Ushchev, P., Y. Zenou, (2016), 'Price Competition in Product Variety Networks', Nota di Lavoro 59.2016, Milan, Italy: Fondazione Eni Enrico Mattei |
| 特色分类 | D43;L11;L13
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| 关键词 | Networks
Product Variety
Monopolistic Competition
Spatial Competition
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| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/price-competition-in-product-variety-networks/
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| 来源智库 | Fondazione Eni Enrico Mattei (Italy)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/118512
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推荐引用方式
GB/T 7714 |
Philip Ushchev,Yves Zenou. Price Competition in Product Variety Networks. 2016.
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