A Generalized Model of Horizontal Product Differentiation
指出，在消费者有外部选择时，企业不会选择最大差异化，而是内部解，推翻了经典Hotelling模型的结论。
A famous result in the literature on horizontal product differentiation is due to C. d'Aspremont, J. J. Gabszewicz, and J. F. Thisse (1979). They show that, in a slightly modified Hotelling model, profit-maximizing firms choose maximum instead of minimum differentiation. The aim of this paper is to show that the result of maximum differentiation is not robust. The author provides provide an example for a wide class of markets where firms will choose interior solutions if consumers have an outside option for their use of money. Copyright 1994 by Blackwell Publishing Ltd.