COMPARISON OF PREFERENCES OF MONOPOLISTIC AND NON-MONOPOLISTIC INDIVIDUALS TOWARD JUSTIFIED PUNISHERS
نویسندگان
چکیده
منابع مشابه
Toward a theory of monopolistic competition
We propose a general model of monopolistic competition, which encompasses existing models while being flexible enough to take into account new demand and competition features. The basic tool we use to study the market outcome is the elasticity of substitution at a symmetric consumption pattern, which depends on both the per capita consumption and the total mass of varieties. We impose intuitive...
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This paper develops a novel approach to modeling preferences in monopolistic competition models with a continuum of goods. In contrast to the commonly used CES preferences, which do not capture the e¤ects of consumer income and the intensity of competition on equilibrium prices, the present preferences can capture both e¤ects. The relationship between consumers incomes and product prices is th...
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Under what circumstances will a monopolistic competitive market be characterized by too little or too much quality variation? How do excise taxes affect the monopolistic competitive equilibrium? Can an increase in the minimum wage lead firms to employ more workers but cause a reduction in industry wide employment? What will be the multiplier effect of a balancedbudget increase in government tax...
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Since the publication of Chamberlin's book [The Theory of Monopolistic Competition (1933)], there has been sorne controversy about what is implied by adopting the Monopolistic Competition point of view [see for example Stigler (1968, p. 320) vs. Samuelson (1958)]. The first formal model of Monopolistic Competition is due to Spence (1976). He showed that if the utility function of the sole consu...
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ژورنال
عنوان ژورنال: PSYCHOLOGIA
سال: 2011
ISSN: 0033-2852,1347-5916
DOI: 10.2117/psysoc.2011.27