Toward a theory of monopolistic competition

The Theory of Monopolistic Competition, Marketing’s Intellectual History, and the Product Differentiation Versus Market Segmentation Controversy

Edward Chamberlin’s theory of monopolistic competition influenced greatly the development of marketing theory and thought in the 1930s to the 1960s. Indeed, marketers held the theory in such high regard that the American Marketing Association awarded Chamberlin the Paul D. Converse Award in 1953, which at the time was the AMA’s highest honor. However, the contemporary marketing literature virtu...

Entrepreneurship , Innovation , and Dynamic Growth vs . Instability in the Market

The challenge of the current study is to introduce entrepreneurship into Microeconomics theory for greater extendability and realism yet capture its unique aspects in a manageable analytical model. The model starts with a perfectly competitive market and then adds a subset of agents with unique skills, capabilities, startup savings, and risk preferences, called entrepreneurs. These profit-seeki...

Edward Chamberlin: Monopolistic Competition and Pareto Optimality

In treatments of Monopolistic Competition, Edward Chamberlin and Joan Robinson are usually credited with simultaneously and independently developing the theory of monopolistic or imperfect competition. While their contributions were indeed simultaneously developed, it is inappropriate to treat them as having duplicated each other‟s efforts. Yet it has become customary in many treatments to rega...

سنجش کشش درآمد کل نسبت به قیمت نهاده و ارزیابی قدرت انحصاری در صنایع کارخانه‌ای ایران (رویکرد غیرساختاری پانزار- روس)

This paper employs the "New Empirical Industrial Organization" approach, developed by Panzar-Rosse, which is used to measure the degree of competition and concentration for 23 industries with 2 Digit ISIC code during the period 1997 -2012. Panzar-Rosse model measures market power by studying how changes in factor input price is reflected in equilibrium revenue by firms, and market power is divi...

“Monopolistic competition and trade: Does the theory carry any empirical ‘weight’?”