Title of article
A new justification of monopolistic competition
Author/Authors
Werner Güth، نويسنده , , Steffen Huck، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 1997
Pages
6
From page
177
To page
182
Abstract
This note offers an evolutionary justification for monopolistic competition: Sellers act on a symmetric heterogenous market, entertain beliefs about the market structure, and maximize conjectural profit functions. We show that conjectural profit functions neglecting strategic interdependence are (neutrally) evolutionarily stable.
Keywords
Monopolistic competition , Evolutionary stability
Journal title
Economics Letters
Serial Year
1997
Journal title
Economics Letters
Record number
434440
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