Bogliacino, F and Rampa, G (2009): Monopolistic Competition and New Products: A Conjectural Equilibrium Approach.
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Abstract
In this paper we generalize the heterogeneous risk adverse agents model of diffusion of new products in a multi-firm, heterogeneous and interacting agents environment. We use a model of choice under uncertainty based on Bayesian theory. We discuss the possibility of product failures, the set of equilibria, their stability and some welfare properties.
| Item Type: | MPRA Paper |
|---|---|
| Original Title: | Monopolistic Competition and New Products: A Conjectural Equilibrium Approach |
| Language: | English |
| Keywords: | Product diffusion, Risk aversion, Lock-in, Monopolistic competition, Multiple equilibria |
| Subjects: | D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D81 - Criteria for Decision-Making under Risk and Uncertainty O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O33 - Technological Change: Choices and Consequences ; Diffusion Processes L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L15 - Information and Product Quality ; Standardization and Compatibility |
| Item ID: | 15120 |
| Depositing User: | Francesco Bogliacino |
| Date Deposited: | 09 May 2009 18:05 |
| Last Modified: | 29 Sep 2019 03:47 |
| References: | L15, D81, O33 |
| URI: | https://mpra.ub.uni-muenchen.de/id/eprint/15120 |
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