Status goodsPositional goodsProduct differentiationProduct varietyMonopolistic competitionD11D43L13Z13International Review of Economics - We introduce status goods in a model of monopolistic competition for investigating whether a stronger preference for status promotes a higher quantity or a......
Recent history has demonstrated that we may have to alter our longstanding conception of the process actuated by competition. The price variable, once perceived as the dominant aspect of the process, is now subordinate to the competition of the new product, the new business structure and the new...