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Dynamic Product Diversity

AuthorsCaminal, Ramón
Keywordsrepeat purchases
product diversity
transitory saturation
demand cycles
Issue Date5-Dec-2011
PublisherBarcelona Graduate School of Economics
CitationBarcelona GSE Working Paper Series (594): (2014)
AbstractThe goal of this paper is to study the frequency of new product introductions in monopoly markets where demand is subject to transitory saturation. We focus on those types of goods for which consumers purchase at most one unit of each variety, but repeat purchases in the same product category. The model considers infinitely-lived, forward-looking consumers and firms. We show that the share of potential surplus that a monopolist is able to appropriate increases with the frequency of introduction of new products and the intensity of transitory saturation. If the latter is sufficiently strong then the rate of introduction of new products is higher than socially desirable (excessive dynamic product diversity)
DescriptionVersion: September 2014
Publicado en diferentes versiones a lo largo del tiempo como: CEPR Discussion Papers (Centre for Economic Policy Research) ; nº 8990 ; UFAE (Unitat de Fonaments de l'Anàlisi Econòmica) and IAE (Institut d'Anàlisi Econòmica) Working Paper
Appears in Collections:(IAE) Informes y documentos de trabajo
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