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Can Irrelevant Product Differentiation Matter ?

Author

Listed:
  • VENTURA , Luigi

    (Universita "G.D'Annunzio" and CORE, Universite catholique de Louvain)

Abstract

In the framework of consumer theory ala Lancaster, in which preferences are defined over bundles of characteristics embodied in goods rather than over goods themselves, a concept of "irrelevant" product differentiation is introduced and its relevance at equilibrium is analyzed. It is also argued that the results obtained can be used to gain some additional insight into the issue of "sunspot" relevance in a particular case of general equilibrium with financial market incompleteness.

Suggested Citation

  • VENTURA , Luigi, 1995. "Can Irrelevant Product Differentiation Matter ?," LIDAM Discussion Papers CORE 1995077, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:1995077
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    File URL: https://sites.uclouvain.be/core/publications/coredp/coredp1995.html
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    More about this item

    Keywords

    Product Differentiation; Hedonic Prices; Sunspots;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General

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