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## Monopolistic competition and income dispersion

Economics Letters. 2014. Vol. 122. No. 2. P. 348-352.

We develop a model of monopolistic competition that accounts for consumers' heterogeneity in both incomes and preferences. This model makes it possible to study the implications of income redistribution on the toughness of competition. We show how the market outcome depends on the joint distribution of consumers' tastes and incomes and obtain a closed-form solution for a symmetric equilibrium. Competition toughness is measured by the weighted average elasticity of substitution. Income redistribution generically affects the market outcome, even when incomes are redistributed across consumers with different tastes in a way such that the overall income distribution remains the same.

Monopolistic competition and income dispersion / Université catholique de Louvain. Series CORE DP-2013 "CORE Discussion Paper". 2013. No. 2013/71.

We develop a model of monopolistic competition that accounts for consumers' heterogeneity in both incomes and preferences. This model makes it possible to study the implications of income redistribution on the toughness of competition. We show how the market outcome depends on the joint distribution of consumers' tastes and incomes and obtain a closed-form solution ...

Added: February 22, 2014

Journal of International Economics 2014 No. 94 P. 129-142

We develop a two-factor, two-sector trade model of monopolistic competition with variable elasticity of sub- stitution. Firms' prots and sizes may increase or decrease with market integration depending on the degree of asymmetry between countries. The country in which capital is relatively abundant is a net exporter of the manu- factured good, although both rm ...

Added: June 19, 2014

Журнал Новой экономической ассоциации 2013 № 19 С. 10-26

The paper studies a market of horizontally differentiated good under increasing return to scale and exogenous number of firms. Three concepts of equilibria are compared: Cournot, Bertrand and monopolistic competition. Under fairly general assumptions on consumer’s preferences, it is shown that Lerner index is the highest in Cournot case, monopolistic competition provides the lowest one ...

Added: November 14, 2013

When Ricardo meets Chamberlin: a simple dynamic model of monopolistic competition / Высшая школа экономики. Series WP BRP "Economics/EC". 2015. No. WP BRP 99/EC/2015.

We develop a dynamic model of monopolistic competition which sheds light on how the interplay between the degree of product differentiation and intertemporal elasticity of substitution affects the steady-state market outcome. Consumers love variety and split their labor endowment between wage labor, which brings immediate income, and producing capital, which promises a rent in the ...

Added: October 10, 2015

Investments in productivity under Monopolistic Competition: Large market advantage / Economics Education and Research Consortium. Series "EERC Working Paper Series". 2013. No. 13/08Е.

We study endogenous productivity in monopolistic competition with general (unspecified) utility/investment functions; a bigger investment yields smaller marginal cost. Then the equilibrium investments increase with the market size if and only if the utility (realistically) generates increasing demand elasticity and this increase can be abrupt (threshold effect). However, this technological advantage of a bigger country/city ...

Added: November 17, 2013

Toward a theory of monopolistic competition / Centre for Economic Policy Research. Series ISSN 0265-8003 "Centre for Economic Policy Research Discussion Paper Series". 2014. No. DP10014.

We propose a general model of monopolistic competition, which encompasses existing models while being exible enough to take into account new demand and competition features. The basic tool we use to study the market outcome is the elasticity of substitution at a symmetric consumption pattern, which depends on both the per capita consumption and the ...

Added: August 9, 2014

Econometrica 2012 Vol. 80 No. 6 P. 2765-2784

We propose a model of monopolistic competition with additive preferences and variable marginal costs. Using the concept of “relative love for variety,” we provide a full characterization of the free-entry equilibrium. When the relative love for variety increases with individual consumption, the market generates pro-competitive effects. When it decreases, the market mimics anti-competitive behavior. The ...

Added: November 20, 2013

Аудит и финансовый анализ 2013 № 6 С. 154-160

The paper develops a one-sector model of monopolistic competition with heterogeneous consumers, which preferences depend upon their personal income. The model is used for the analysis of the mark-ups dependence on the inequality of consumers’ income distribution and average wage. The paper shows that mark-ups can ambiguously depend upon income inequality at fixed average income, ...

Added: November 14, 2013

Price-Quantity Competition of Farsighted Firms: Toughness vs. Collusion / Высшая школа экономики. Series EC "Economics". 2015. No. 93.

The paper examines an interaction of boundedly rational firms that are able to calculate their gains after reaction of an opponent to their own deviations from the current strategy. We consider an equilibrium concept that we call a Nash-2 equilibrium. We discuss the problem of existence and possible multiplicity of such equilibria, relation to infinite ...

Added: April 15, 2015

Productivity and Entrepreneurship in a Model a’la Melitz / Высшая школа экономики. Series WP BRP "Economics/EC". 2013.

We develop a monopolistic-competition model of closed two-sector one-factor economy, where agents are (continuously) heterogeneous in their entrepreneurship abilities and choose between being employees or entrepreneurs. How the share of entrepreneurs in population changes when the market expands? The sufficient conditions in terms of variable elasticity of substitution are found for expanding or shrinking entrepreneurial ...

Added: December 5, 2013

Пространственная экономика 2013 № 3 С. 10-29

We study the impact of trade liberalization on the market of a differentiated good and consumers’ welfare. The economy involves two factors of production: labor and capital. We find that consumers always gain from trade liberalization. We also establish that the behavior of equilibrium price is independent of factor endowments’ structure in the countries involved ...

Added: November 18, 2013

Bidimensional Sorting: Workers vs Entrepreneurs / Высшая школа экономики. Series WP BRP "Economics/EC". 2013.

In this paper we examine heterogenous individuals' occupational choice problem. The agents differ in their entrepreneurial talent and productivity and make their occupational choices by comparing their reservation wages to expected proﬁts from running a firm. The model set-up delivers a cut-off function that describes a set of agents indifferent between the two occupations. This ...

Added: December 5, 2013

M.: Litterra, 2018

«Менеджерлерге арнал#ан экономика» кітабы о9ырманды зама
науи 9о#амда аса 9ажетті болып табылатын ?рі экономикалы9 ойлауды
9алыптастыру#а ы9пал ететін микро ж?не макроэкономика моделдеріні/
негізгі M#ым-тOсініктерімен таныстырады. Атал#ан о9улы9ты/ ерекшелігі,
мMнда теориялы9 моделдер мен тMжырымдарды/ практикалы9 9ызмет ба
рысында пайдаланылуына басты назар аударылады. Экономист-аналитик
терге, сарапшылар#а арнал#ан экономикалы9 теория бойынша д?стOрлі
о9улы9тардан айырмашылы#ы, «Менеджерлерге арнал#ан экономика» биз
нес 9Mрылымдарда 9ызмет ететін немесе осы салада жMмыс ...

Added: October 21, 2014

Журнал Новой экономической ассоциации 2015 № 2 С. 36-62

We define a general equilibrium model with heterogeneous individuals who are endowed by identical preferences, given by utility function with constant elasticity of substitution (CES), and by heterogeneous entrepreneurial skills. We find that scale effects linked to migration are tractable in the framework of the constructed model because the migration changes the market size together ...

Added: November 13, 2014

Trade Patterns and Export Pricing Under Non-CES Preferences / . 2013. No. 124.

We develop a two-factor, two-sector trade model of monopolistic competition with variable elasticity of substitution. Firm profit and firm size may increase or decrease with market integration depending on the degree of asymmetry between countries. The country in which capital is relatively abundant is a net exporter of the manufactured good, while both firms' size ...

Added: November 19, 2013

Mathematical Models and Computer Simulations 2014 Vol. 6 No. 5 P. 445-455

Based on the well-known model of monopolistic competition by Melitz with a finite number of firms, we built a number of dynamic models, designed to clarify the dynamic behavior of the original construction. Two variants of the formal Melitz dynamic model are presented, with the quasi-steady state found in one of them. Also, the models ...

Added: September 22, 2014

Product Diversity in a Vertical Distribution Channel under Monopolistic Competition / Economics Education and Research Consortium. Series "EERC Working Paper Series". 2010. No. 10/03E.

In Russia the chain-stores gained a considerable market power. In the paper we combine a Dixit-Stiglitz industry with a
monopolistic retailer. The questions addressed are: Does the retailer always deteriorate welfare, prices and variety of goods?
Which market structure is worse: Nash or Stackelberg behavior? What should be the public policy in this area? ...

Added: November 17, 2013

Rational decision making under uncertainty of reaction: Nash-2 equilibrium concept / Высшая школа экономики. Series WP7 "Математические методы анализа решений в экономике, бизнесе и политике". 2016. No. 1.

The paper examines an interaction of boundedly rational agents that are able to calculate their benefits after reaction of an opponent to their own deviations from the current strategy. Accounting for strategic aspects of interaction among players can be implemented as a generalization of the Nash equilibrium concept. This is a possible compromise behavior: not ...

Added: March 3, 2016

Multisector monopolistic competition model / Высшая школа экономики. Series EC "Economics". 2013. No. WP BRP 34/EC/2013.

We present a natural generalization of the Dixit-Stiglitz monopolistic competition model (DSM) — we assume that there is a continuum of industries, each of them described as in DSM, and each characterized with its own elasticity of substitution. Although rms in all industries share the same level of productivity and costs, exogenous technological progress leads ...

Added: October 4, 2013

М.: ИНИОН РАН, 2014

В сборнике рассматриваются теоретические и практические проблемы взаимодействия человека, техносферы и биосферы, а также преодоления антропогенной деградации биосферы.
Для научных работников, специалистов, преподавателей и аспирантов. ...

Added: October 22, 2014

Вестник Нижегородского университета им. Н.И. Лобачевского. Серия: Социальные науки 2019 Т. 55 № 3 С. 183-189

The article describes a method that allows to improve the content of disciplines of the mathematical cycle by dividing them into invariant (general) and variable parts. The invariants were identified for such disciplines as «Linear algebra», «Mathematical analysis», «Probability theory and mathematical statistics» delivered to Bachelors program students of economics at several universities. Based on ...

Added: January 28, 2020

М.: КноРус, 2012

Представлена экономическая оценка природно-ресурсного потенциала РФ, рассмотрены закономерности размещения природных ресурсов и основные особенности экологической ситуации в регионах страны, описано влияние экологических факторов на демографический потенциал и здоровье населения, приведена характеристика основных загрязнителей окружающей среды, изложены основы природно-ресурсной политики России и хозяйственный механизм ее осуществления, раскрыты региональные различия современной экологической обстановки в стране и тенденции ...

Added: March 10, 2013

Проблемы теории и практики управления 2014 № 12 С. 89-96

In this article is conducted research of the mechanism of selection of venture innovative projects. We studied the factors, which influence a choice of business angels. The purpose of work was to receive an advanced system of estimation of projects. On the basis of the survey it is possible to say that the financing of ...

Added: December 8, 2014

Journal of Accounting, Finance and Economics 2013 Vol. 3 No. 1 P. 65-76

The last market crash of 2008-2009 showed that the construction sphere is one of the most fragile subject to the crisis effect. The destructive effect of this crash resulted in substantial decrease in mortgage lending, price index, capital investment, and in growth of the cost level. As the construction industry remains strategically important, the eruption ...

Added: September 5, 2013