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Monopolistic Competition, As You Like It

Paolo Bertoletti () and Federico Etro ()

Working Papers - Economics from Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa

Abstract: We study monopolistic competition with asymmetric preferences over a variety of goods provided by heterogeneous firms, and show how to compute equilibria through the Morishima measures of substitution. Further results concerning pricing and entry emerge under homotheticity and when demands depend on common aggregators, as for Generalized Additively Separable preferences (encompassing additive, Gorman-Pollak and implicit CES preferences). We discuss selection effects of changes in aggregate productivity, expenditure and market size, and present applications to trade, with markups variable across goods, and macroeconomics, with markups depending on aggregate variables.

Keywords: Monopolistic competition; Asymmetric preferences; Heterogeneous firms; Generalized separability; Variable markups (search for similar items in EconPapers)
JEL-codes: D11 D43 L11 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2018
New Economics Papers: this item is included in nep-com and nep-ind
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Related works:
Journal Article: Monopolistic competition, as you like it (2022) Downloads
Working Paper: Monopolistic Competition, As You Like It (2020) Downloads
Working Paper: Monopolistic Competition, As You Like It (2017) Downloads
Working Paper: Monopolistic Competition, As You Like It (2017) Downloads
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