Survival at the Center - The Stability of Minimum Differentiation

Burkhard Hehenkamp and Achim Wambach

Post-Print from HAL

Abstract: We model a Hotelling market with multidimensional product differentiation in an evolutionary framework. Both evolutionary stability (in the sense of Schaffer, 1989) and stochastic stability (following Kandori et al., 1993, and Young, 1993) are analysed. It is shown that firms move towards the center in product space, i.e. a "principle of minimum differentiation" on all dimensions of the product space applies.

Keywords: Hotelling; evolutionary game theory; product differentiation; location choice; C73; L1; R3 (search for similar items in EconPapers)
Date: 2010-11-30
Note: View the original document on HAL open archive server: https://hal.science/hal-00911820v1
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

Published in Journal of Economic Behavior and Organization, 2010, 76 (3), pp.853. ⟨10.1016/j.jebo.2010.09.018⟩

Downloads: (external link)
https://hal.science/hal-00911820v1/document (application/pdf)

Related works:
Journal Article: Survival at the center--The stability of minimum differentiation (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00911820

DOI: 10.1016/j.jebo.2010.09.018

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().