Monopolistic Competition and New Products: A Conjectural Equilibrium Approach

Francesco Bogliacino and G Rampa

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Product diffusion; Risk aversion; Lock-in; Monopolistic competition; Multiple equilibria (search for similar items in EconPapers)
JEL-codes: D81 L15 O33 (search for similar items in EconPapers)
Date: 2009-01-08
New Economics Papers: this item is included in nep-mic and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Monopolistic competition and new products: a conjectural equilibrium approach (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:15120

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