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Vertical Product Differentiation

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Vertical Product Differentiation In The Lab

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Author : Adriana Alventosa
language : en
Publisher:
Release Date : 2022

Vertical Product Differentiation In The Lab written by Adriana Alventosa and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.

This paper revisits a vertically differentiated duopoly game where producers first simultaneously set qualities and then simultaneously set prices. We theoretically and experimentally explore the impact of different consumers' preferences dispersion levels. We find that firms suboptimally differentiate their products, specially when consumers' preferences dispersion is high and that, in both cases and in contrast with our theoretical prediction, there is a low-quality firm advantage.

The Economics Of Vertically Differentiated Markets

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Author : Luca Lambertini
language : en
Publisher: Edward Elgar Publishing
Release Date : 2006-01-01

The Economics Of Vertically Differentiated Markets written by Luca Lambertini and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-01 with Business & Economics categories.

'This is a high-quality book on an important and central topic in the theory of industrial organisation. It is a cohesive and extremely well written volume which is destined to become a standard work on the subject.' - Mark Casson, University of Reading, UK This original new book offers a comprehensive and engaging perspective on the theory of vertical differentiation. It enables the reader to grasp the key concepts and effects that product quality has both on firms' behaviour and market structure, and the ways in which this relationship has evolved. With contributions from prominent figures in the field, the book investigates a number of important topics, such as the choice of the optimal product range, profit sharing, the existence of equilibrium in duopoly games, positional effects attached to status goods, international trade, collusion, advertising and the dynamics of capital accumulation for quality improvement and product innovation. Using both static and dynamic approaches, these aspects are assessed in relation to the manifold issues of regulation, competition policy and trade policy. Product differentiation and its influence on consumer behaviour and the performance of firms is a core topic in the existing literature in the fields of industrial organization, international trade and economic growth. This book will be an essential read for researchers, students and professional scholars working in these areas, especially those with an interest in antitrust regulation.

Structural Implications And Estimation Of Vertical Product Differentiation

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Author : Paul Richard Messinger
language : en
Publisher:
Release Date : 1988

Structural Implications And Estimation Of Vertical Product Differentiation written by Paul Richard Messinger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with categories.

On Combining Horizontal And Vertical Product Differentiation

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Author :
language : en
Publisher:
Release Date : 1985

On Combining Horizontal And Vertical Product Differentiation written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Diversification in industry categories.

Essays On Vertical Product Differentiation

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Author : Yong-Hwan Noh
language : en
Publisher:
Release Date : 2005

Essays On Vertical Product Differentiation written by Yong-Hwan Noh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.

This dissertation explores models of heterogeneous product markets that rely on the "vertical product differentiation" formulation. The demand structure applied here is the covered-market configuration under the vertical product differentiation. With this specification, product market equilibria of the monopoly and duopoly market are derived. In particular, parameter restrictions on the degree of relative consumer heterogeneity associated with the covered-market setting are identified and used to interpret analytical results. Based on the specified demand structure, I revisit two industrial organization topics from the perspectives of vertical product differentiation. The first essay analyzes the entry of a new product into a vertically differentiated market where an entrant and an incumbent compete in prices. Many models on strategic entry deterrence deal with "limit quantities" as the established firm's strategic tool to deter or accommodate entry. Here, however, the entry-deterrence strategies of the incumbent firm rely on "limit qualities". With a sequential choice of quality, quality-dependent marginal production cost, and a fixed entry cost, I relate the entry-quality decision and the entry-deterrence strategies to the level of an entry cost and the degree of consumer heterogeneity. In particular, the incumbent influences the quality choice of the entrant by choosing its quality level before the entrant. This allows the incumbent to "limit" the entrant's entry decision and quality levels. Quality-dependent marginal production costs in the model entail the possibility of inferior-quality entry as well as the incumbent's aggressive entry-deterrence strategies by increasing its quality level towards potential entry. Welfare evaluation confirms that social welfare is not necessarily improved when entry is encouraged rather than deterred. The second essay is motivated by some specific economic questions that have arisen with the introduction of 'genetically modified' (GM) agricultural products. A duopoly market-entry model associated with the vertical product differentiation is developed to show how the existence of segregation costs biases the firm's quality choice behavior. Thus, the key factor of the model is the cost of segregation activities that are necessary to distinguish GM products from non-GM products. With an increasing and convex cost of quality, the model predicts that the entrant firm has an increased incentive to enter the market with a low-quality good to reduce production costs if segregation costs are sufficiently high. When consumers are homogeneous enough, however, entry may occur with the high-quality good.

The Economic Theory Of Product Differentiation

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Author : John Beath
language : en
Publisher: Cambridge University Press
Release Date : 1991-02-22

The Economic Theory Of Product Differentiation written by John Beath and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-02-22 with Business & Economics categories.

There are few industries in modern market economies that do not manufacture differentiated products. This book provides a systematic explanation and analysis of the widespread prevalence of this important category of products. The authors concentrate on models in which product selection is endogenous. In the first four chapters they consider models that try to predict the level of product differentiation that would emerge in situations of market equilibrium. These market equilibria with differentiated products are characterised and then compared with social welfare optima. Particular attention is paid to the distinction between horizontal and vertical differentiation as well as to the related issues of product quality and durability. This book brings together the most important theoretical contributions to these topics in a succinct and coherent manner. One of its major strengths is the way in which it carefully sets out the basic intuition behind the formal results. It will be useful to advanced undergraduate and graduate students taking courses in industrial economics and microeconomic theory.