Monopolistic competition with apology
(2019) Handbook of Game Theory and Industrial Organization — ISBN: [9781785363276], p. 93-136, published
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- Abstract
- The absence of a general equilibrium model of oligopolistic competition unintentionally paved the way for the success of the constant elasticity of substitution (CES) model of monopolistic competition. This model, developed by Dixit and Stiglitz (1977), has been used in so many economic fields that a large number of scholars view it as vritually the model of monopolistic competition. The main thrust of this chapter is that monopolistic competition is a market structure in its own right, which encompasses a much broader set-up than what most economists believe it to be.
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Thisse, J.-F. (2019). Monopolistic competition with apology. In C. Corchon and Marco A. Marini (ed.), Handbook of Game Theory and Industrial Organization (p. p. 93-136). C. Corchon and Marco A. Marini. https://hdl.handle.net/2078.5/98245