Information, Welfare, and Product Diversity

Steven C. Salop and Joseph Stiglitz

Chapter 10 in Arrow and the Foundations of the Theory of Economic Policy, 1987, pp 328-340 from Palgrave Macmillan

Abstract: Abstract It is easy to contribute a chapter to a volume honouring Kenneth Arrow: there is hardly an area of concern to modern economic theory where he has not had fundamental insights. This chapter picks up on two themes on which he made early and important contributions.

Keywords: Product Diversity; Demand Curve; Search Cost; Imperfect Information; Market Area (search for similar items in EconPapers)
Date: 1987
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DOI: 10.1007/978-1-349-07357-3_11

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