Monopolistic Competition and New Products: A Conjectural Equilibrium Approach

In this paper we generalize the heterogeneous risk adverse agents model of diffusion of new products in a multi-firm, heterogeneous and interacting agents environment. We use a model of choice under uncertainty based on Bayesian theory. We discuss the possibility of product failures, the set of equilibria, their stability and some welfare properties.

MoreLess

Year of publication:	2009-01-08
Authors:	Bogliacino, F ; Rampa, G
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Product diffusion \| Risk aversion \| Lock-in \| Monopolistic competition \| Multiple equilibria

More details

Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty ; O33 - Technological Change: Choices and Consequences; Diffusion Processes ; L15 - Information and Product Quality; Standardization and Compatibility
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005014742