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Imperfect Information and Monopolistic Competition

Schwartz, Alan and Wilde, Louis L. (1981) Imperfect Information and Monopolistic Competition. Social Science Working Paper, 403. California Institute of Technology , Pasadena, CA.

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This paper reviews recent search equilibrium models to see whether usable policy instruments can be derived from them. It concludes that the strength of the assumptions that many of these models make largely precludes such derivations, and ends by sketching possible lines of research that have both positive interest and the potential to yield helpful normative conclusions.

Item Type:Report or Paper (Working Paper)
Related URLs:
URLURL TypeDescription version in American Economic Review ItemPublished version in American Economic Review
Alternate Title:Imperfect Information, Monopolistic Competition, and Public Policy
Additional Information:This paper has benefited greatly from the comments and suggestions of Edward Green, Mary O' Keeffe, Jennifer Reinganum and James Strnad, Our work was supported by NSF Grant No. DAR-8016066. Published as Schwartz, Alan, and Louis L. Wilde. "Imperfect information, monopolistic competition, and public policy." The American Economic Review 72.2 (1982): 18-23.
Group:Social Science Working Papers
Funding AgencyGrant Number
Subject Keywords:Consumer prices, Consumer equilibrium, Marginal cost pricing, Consumer information, Economic models, Acquisition costs, Modeling, Monopolistic competition, Sumer, Market prices
Series Name:Social Science Working Paper
Issue or Number:403
Record Number:CaltechAUTHORS:20171004-151357909
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Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:82088
Deposited By: Jacquelyn Bussone
Deposited On:04 Oct 2017 23:27
Last Modified:03 Oct 2019 18:50

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