In this paper we generalize the heterogeneous risk adverse agents model of diffusion of new products in a multi-firm, heterogeneous and interacting agents environment. We use a model of choice under uncertainty based on Bayesian theory. We discuss the possibility of product failures, the set of equilibria, their stability and some welfare properties depending on the degree of diversification. © Springer-Verlag 2009.
Bogliacino, F., Rampa, G., Monopolistic competition and new products: A conjectural equilibrium approach, <<JOURNAL OF ECONOMIC INTERACTION AND COORDINATION>>, 2010; 5 (1): 55-76. [doi:10.1007/s11403-009-0056-8] [https://hdl.handle.net/10807/283876]
Monopolistic competition and new products: A conjectural equilibrium approach
Bogliacino, Francesco
;
2010
Abstract
In this paper we generalize the heterogeneous risk adverse agents model of diffusion of new products in a multi-firm, heterogeneous and interacting agents environment. We use a model of choice under uncertainty based on Bayesian theory. We discuss the possibility of product failures, the set of equilibria, their stability and some welfare properties depending on the degree of diversification. © Springer-Verlag 2009.
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