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| Author: | Hinloopen, J. Marrewijk, C. van |
| Title: | On the limits and possibilities of the principle of minimum differentiation |
| Journal: | International Journal of Industrial Organization
1999 : JUL, VOL. 17:5, p. 735-750 |
| Index terms: | INDUSTRIAL ORGANIZATION DUOPOLY PRICING |
| Language: | eng |
| Abstract: | Introducing a finite reservation price in Hoteling's spatial duopoly with linear transportation costs shows that 1) there does not exist a pure strategy symmetric location equilibrium if the reservation price is "high", 2) there is a continuum of (monopolistic) equilibria if the reservation price is "low", and 3) there exists a unique pure strategy symmetric location equilibrium if the reservation price is "intermediate". The equilibrium distance between the two firms in the latter case is at least a quarter and at most half the length of the market. |
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