@ARTICLE{19002982_1981,
    author = {Koenker, Roger W. and Perry, Martin K.}, 
    keywords = {},
    title = {Product differentiation, monopolistic competition, and public policy},
    journal = {Bell Journal of Economics},
    year = {1981},
    month = {},
    volume = {12},
    number = {1},
    pages = {217-232},
    url = {http://ecsocman.hse.ru/text/19002982/},
    publisher = {},
    language = {ru},
    abstract = {This paper generalizes a model of monopolistic competition 
attributable to Spence (1976). Firms produce symmetrically 
differentiated products with declining or U-shaped average costs. 
Free entry drives profits to zero in equilibrium. Spence finds that 
when firms behave "competitively," in a specific sense, the market 
equilibrium yields too little product diversity. However, when 
Spence' s "competitive" behavioral assumption is relaxed, we find 
that the market may produce excessive diversity; this occurs when 
product differentiation is weak relative to scale economies of 
production. We also study two second-best regulatory policies and 
characterize conditions under which they are potentially effective in 
improving the market outcome. [Авторский текст] },
    annote = {This paper generalizes a model of monopolistic competition 
attributable to Spence (1976). Firms produce symmetrically 
differentiated products with declining or U-shaped average costs. 
Free entry drives profits to zero in equilibrium. Spence finds that 
when firms behave "competitively," in a specific sense, the market 
equilibrium yields too little product diversity. However, when 
Spence' s "competitive" behavioral assumption is relaxed, we find 
that the market may produce excessive diversity; this occurs when 
product differentiation is weak relative to scale economies of 
production. We also study two second-best regulatory policies and 
characterize conditions under which they are potentially effective in 
improving the market outcome. [Авторский текст] }
}