Monopolistic Competition in the Spirit of Chamberlin: A General Model
构建了一个大型群体张伯伦式垄断竞争模型,包含众多生产差异化产品的企业,每个企业可忽略对其他企业的影响,自由进入导致零利润,但面临向下倾斜的需求曲线,并证明了均衡的存在性。
This paper develops a model of "large group" Chamberlinian monopolistic competition in which (1) there are many firms producing differentiated commodities, (2) each firm is negligible in that it can ignore its impact on, and hence reactions from, other firms; (3) free entry leads to zero profit of operating firms; but (4) each firm faces a downward-sloping demand curve. The existence of a monopolistically competitive equilibrium is established. In a companion paper, more particular questions such as whether the market provides too many or too few products are addressed for a special case of the model.