[en] Lancasterian models of product differentiation typically assume a one-dimension characteristics space. We show that standard results on prices and locations no longer hold when firms compete in a multi- characteistics space.
Disciplines :
Microeconomics
Author, co-author :
IRMEN, Andreas ; University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Center for Research in Economic Analysis (CREA)
Thisse, Jacques-Francois
Language :
English
Title :
Competition in Multi-characteristics Spaces: Hotelling Was Almost Right
