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Regular version of the site

Book chapter

Monopolistic competition without apology

P. 93-136.

We provide a selective survey of what has been accomplished under the heading of monopolistic competition in industrial organization and other economic fields. Among other things, we argue that monopolistic competition is a market structure in its own right, which encompasses a much broader set-up than the celebrated constant elasticity of substitution (CES) model. Although oligopolistic and monopolistic competition compete for adherents within the economics profession, we show that this dichotomy is, to a large extend, unwarranted.

In book

Edited by: L. Corchon, M. Marini. Vol. 1. Edward Elgar Publishing, 2018.