The Competitive Effects of Price‐Floors
基于霍特林区位竞争模型，研究发现适度的价格下限会破坏最大差异化均衡，导致最小差异化，且均衡价格低于无下限时。
Using Hotelling's model of locational competition, we show that a moderate price‐floor destroys the maximal differentiation equilibrium, resulting in minimum differentiation. Equilibrium prices are lower than prices in the absence of a floor. A low price‐floor can lead to multiple equilibria, with both minimum and maximum differentiation as possible outcomes.