Chapter 5: Monopolistic competition without apology
Jacques-François Thisse
and
Philip Ushchev
Category:
Handbook Chapter
Published:
23 Feb 2018
Page Range:
93–136
Collection:
Economics 2018
DOI:
https://doi.org/10.4337/9781785363283.00011
Restricted access

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.

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Cover Handbook of Game Theory and Industrial Organization, Volume I
Handbook of Game Theory and Industrial Organization, Volume I
Edited by
Luis C. Corchón
and
Marco A. Marini
Handbook
Published:
23 Feb 2018
Print ISBN:
9781785363276
eISBN:
9781785363283
DOI:
https://doi.org/10.4337/9781785363283
Pages:
576
Collection:
Economics 2018
Buy Print