Monopolistic Competition and Efficiency under Firm Heterogeneity and Nonadditive Preferences

IF 4.6 Q2 MATERIALS SCIENCE, BIOMATERIALS
Kyle Bagwell, Seung Hoon Lee
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引用次数: 0

Abstract

We consider the single-sector version of the Melitz-Ottaviano model of monopolistic competition with heterogeneous firms. We characterize the first-best and market allocations. We find that the market provides the first-best level of entry but too little selection; hence, the market provides too many varieties and too little aggregate quantity, and allocates too little (much) production to low (high) cost realizations. Allowing for a broad family of quantity allocation functions, we establish sufficient conditions for the global optimality of the first-best solution. Several important extensions are also examined. (JEL D21, D43, D50, D60)
企业异质性和非加性偏好下的垄断竞争与效率
我们考虑单一部门版本的Melitz-Ottaviano模型与异质企业的垄断竞争。我们描述了最佳和市场配置。我们发现,市场提供了最好的入门水平,但选择太少;因此,市场提供了太多的品种和太少的总量,并将太少(太多)的生产分配给低(高)成本的实现。考虑到大量的数量分配函数,我们建立了最优解全局最优性的充分条件。还研究了几个重要的扩展。(凝胶d21, d43, d50, d60)
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来源期刊
ACS Applied Bio Materials
ACS Applied Bio Materials Chemistry-Chemistry (all)
CiteScore
9.40
自引率
2.10%
发文量
464
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