Monopolistic competition without apology
Jacques Thisse () and
Philip Ushchev ()
No 11449, CEPR Discussion Papers from C.E.P.R. Discussion Papers
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; product differentiation; the negligibility hypothesis (search for similar items in EconPapers)
JEL-codes: D43 L11 L13 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-com, nep-hme, nep-hpe and nep-ind
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Working Paper: Monopolistic Competition Without Apology (2016)
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