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Taste for Variety and Optimum Product Diversity in an Open Economy

Javier Coto-Martinez, Maria Garcia-Alonso and Paul Levine ()

Studies in Economics from School of Economics, University of Kent

Abstract: We extend the Benassy (1996) 'taste for variety' model to an open economy setting. With the Benassy effect, the market equilibrium is inefficient, openness reduces the varieties provided in the unconstrained optimum and there are potential gains from international coordination.

Keywords: Taste for Variety; monopolistic competition; Benassy effect; open economy (search for similar items in EconPapers)
JEL-codes: D43 F12 (search for similar items in EconPapers)
Date: 2005-10
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Journal Article: TASTE FOR VARIETY AND OPTIMUM PRODUCT DIVERSITY IN AN OPEN ECONOMY (2009) Downloads
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