| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9417 |
| DP9417 Monopolistic Competition and Optimum Product Selection: Why and how heterogeneity matters | |
| Gianmarco Ottaviano; Matteo Salto | |
| 发表日期 | 2013-04-07 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | After some decades of relative oblivion, the interest in the optimality properties of monopolistic competition has recently re-emerged due to the availability of an appropriate and parsimonious framework to deal with firm heterogeneity. Within this framework we show that non-separable utility, variable demand elasticity and endogenous firm heterogeneity cause the market equilibrium to err in many ways, concerning the number of products, the size and the choice of producers, the overall size of the monopolistically competitive sector. More crucially with respect to the existing literature, we also show that the extent of the errors depends on the degree of firm heterogeneity. In particular, the inefficiency of the market equilibrium seems to be largest when selection among heterogenous firms is needed most, that is, when there are relatively many firms with low productivity and relatively few firms with high productivity. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Heterogeneity Monopolistic competition Product diversity Selection Welfare |
| URL | https://cepr.org/publications/dp9417 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538253 |
| 推荐引用方式 GB/T 7714 | Gianmarco Ottaviano,Matteo Salto. DP9417 Monopolistic Competition and Optimum Product Selection: Why and how heterogeneity matters. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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