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| Author: | Shaked, A. Sutton, J. |
| Title: | Product differentiation and industrial structure. |
| Journal: | Journal of Industrial Economics
1987 : DEC, VOL. 36:2, p. 131-146 |
| Index terms: | PRODUCT DIFFERENTIATION ADVERTISING R&D MARKET STRUCTURE |
| Language: | eng |
| Abstract: | Some recent literature on models of "vertical product differentiation" is reviewed. Based on these models the relationships between the level of fixed costs (notably R+D and advertising expenditures) and industrial concentration are examined. In the focus of attention is not the size of fixed costs per se, but rather the extent to which these expenditures can substitute for higher variable costs in product improvement. In the present model, given the size of the market, it is the interplay between consumers' tastes and the underlying technology which determine the degree of concentration and the level of fixed costs. Within this framework many issues which arise in considering the relationship between the key variables are re-explored. |
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