True monopolistic competition as a result of imperfect information

Asher Wolinsky*

*Corresponding author for this work

Research output: Contribution to journalArticle

127 Scopus citations

Abstract

The paper restates Hart's [1985a, 1985b] definition of large group monopolistic competition, distinguishes it from oligopolistic competition, and raises the question of whether there are reasonable circumstances that give rise to true monopolistic competition as defined. The purpose is to show that consumers' imperfect information may create conditions that will turn an otherwise oligopolistic market into a truly monopolistically competitive one.

Original languageEnglish (US)
Pages (from-to)493-511
Number of pages19
JournalQuarterly Journal of Economics
Volume101
Issue number3
DOIs
StatePublished - Jan 1 1986

ASJC Scopus subject areas

  • Economics and Econometrics

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