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The Economic Theory of Product Differentiation - John Beath

The Economic Theory of Product Differentiation


Published: 28th February 1991
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There are few industries in modern market economies that do not manufacture differentiated products. This book provides a systematic explanation and analysis of the widespread prevalence of this important category of products. The authors concentrate on models in whcih product selection is endogenous. In the first four chapters they consider models that try to predict the level of product differentiation that would emerge in situations of market equilibrium. These market equilibria with differentiated products are characterised and then compared with social welfare optima. Particular attention is paid to the distinction between horizontal and vertical differentiation as well as to the related issues of product quality and durability. Thsi book brings together the most important theoretical contributions to these topics in a succinct and coherent manner. One of its major strenghts is the way in which it carefully sets out the basic intuition behind the formal results. It will be useful to advanced undergraduate and graduate students taking courses in industrial economics and microeconimic theory.

Spatial models of imperfect competition
Symmetric preferences, the Chamberlinian paradigm
Product diversity and product selection: market equilibria and social optima
Product quality and market structure
Vertical product differentiation
Product differentiation and market imperfection: limit theorems
Product differentiation and the entry process
The gains from trade under product differentiation
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521335263
ISBN-10: 0521335264
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 216
Published: 28th February 1991
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 20.4 x 15.9  x 1.6
Weight (kg): 0.49