Excerpt from Econometric Diagnosis of Competitive Localization In the original Hotelling model, with sellers arrayed along a line in geographic or product space, rivalry is localized in the sense that each brand faces only a small number of direct competitors, no matter how many sellers are present in the market as a whole. This sort of localization can convert an apparently large-numbers situation into one of overlapping oligopolies, so that overall market concentration may be a seriously misleading indicator of the ...
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Excerpt from Econometric Diagnosis of Competitive Localization In the original Hotelling model, with sellers arrayed along a line in geographic or product space, rivalry is localized in the sense that each brand faces only a small number of direct competitors, no matter how many sellers are present in the market as a whole. This sort of localization can convert an apparently large-numbers situation into one of overlapping oligopolies, so that overall market concentration may be a seriously misleading indicator of the likelihood of non - competitive behavior. In symmetric models, on the other hand, each firm affects and is affected by all others in a symmetric fashion. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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