Monopolistic competition without apology

Jacques Thisse and Philip Ushchev

No 11449, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: We provide a selective survey of what has been accomplished under the heading of monopolistic competition in industrial organization and other economic fields. Among other things, we argue that monopolistic competition is a market structure in its own right, which encompasses a much broader set-up than the celebrated constant elasticity of substitution (CES) model. Although oligopolistic and monopolistic competition compete for adherents within the economics profession, we show that this dichotomy is, to a large extend, unwarranted.

Keywords: Monopolistic competition; Oligopoly; The negligibility hypothesis; Product differentiation (search for similar items in EconPapers)
JEL-codes: D43 L11 L13 (search for similar items in EconPapers)
Date: 2016-08
New Economics Papers: this item is included in nep-com, nep-hme, nep-hpe and nep-ind
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Citations: View citations in EconPapers (12)

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Chapter: Monopolistic competition without apology (2018)
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