English, Article edition: Welfare in differentiated oligopolies with more than two firms Schmidt, Robert C.

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Welfare in differentiated oligopolies with more than two firms
Author
  • Schmidt, Robert C.
Physical Description
  • article
Notes
  • Excessive differentiation in the quality or location dimension in order to soften price competition is a well-established conclusion concerning duopolistic markets. This has inspired authors to discuss policy measures that may improve welfare in a differentiated market. In the present paper, a general welfare analysis is conducted for a varying number of firms. It is shown that outcomes are almost optimal when three or more competitors are in the market. In light of this, a laissez-faire policy should be adopted. For a range of entry costs, market outcomes entail insufficient entry. Therefore, a subsidy to entry may improve welfare.
  • Horizontal differentiation Vertical differentiation Quality Over differentiation Entry subsidy
  • RePEc:eee:indorg:v:27:y:2009:i:4:p:501-507
Language
  • English
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