Oligopolistic Competition, Product Variety, Entry Deterrence, and Technology Transfer

Jonathan Eaton and Henryk Kierzkowski

RAND Journal of Economics, 1984, vol. 15, issue 1, 99-107

Abstract: This article develops a model of industrial structure and product variety when tastes are diffuse and when a firm must incur a fixed cost and design a product before producing. Pricing and output decisions occur subsequently. While standard Cournot-Nash and Bertrand-Nash equilibrium concepts typically fail to identify a unique equilibrium among a given set of producers, consistent conjectures determine a unique equilibrium. One aspect of this equilibrium is that consumers typically benefit from having majority tastes.

Date: 1984
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