Universität zu Köln

Hehenkamp, Burkhard and Wambach, Achim (2010). Survival at the center-The stability of minimum differentiation. J. Econ. Behav. Organ., 76 (3). S. 853 - 859. AMSTERDAM: ELSEVIER. ISSN 1879-1751

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Abstract

We model a Hotelling market with multidimensional product differentiation in an evolutionary framework. Both evolutionary stability (in the sense of Schaffer, 1989) and stochastic stability (following Kandori et al., 1993; Young, 1993) are analyzed. It is shown that firms move towards the center in product space, i.e. a principle of minimum differentiation on all dimensions of the product space applies. (C) 2010 Elsevier B.V. All rights reserved.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Hehenkamp, Burkhard UNSPECIFIED UNSPECIFIED UNSPECIFIED Wambach, Achim UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-491695
DOI:	10.1016/j.jebo.2010.09.018
Journal or Publication Title:	J. Econ. Behav. Organ.
Volume:	76
Number:	3
Page Range:	S. 853 - 859
Date:	2010
Publisher:	ELSEVIER
Place of Publication:	AMSTERDAM
ISSN:	1879-1751
Language:	English
Faculty:	Unspecified
Divisions:	Unspecified
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language LONG-RUN EQUILIBRIA; EVOLUTIONARY STABILITY; COMPETITION; GAMES; OLIGOPOLY; MUTATION; BEHAVIOR; MODEL Multiple languages Economics Multiple languages
URI:	http://kups.ub.uni-koeln.de/id/eprint/49169