Production and Advertising in a Dynamic Hotelling Monopoly

Lambertini, Luca (2001) Production and Advertising in a Dynamic Hotelling Monopoly. DOI 10.6092/unibo/amsacta/680.
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Abstract

I characterise the dynamics of capacity accumulation and investment in advertising in a spatial monopoly model, contrasting the socially optimal behaviour of a benevolent planner against the behaviour of a profit-maximising monopolist. I show that, in steady state, the monopolist always distorts both kinds of investment as compared to the social optimum, except in a situation where the Ramsey equilibrium prevails under both regimes.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Lambertini, Luca
Keywords
capital accumulation advertising steady state saddle point
Subjects
DOI
Deposit date
17 Jun 2004
Last modified
17 Feb 2016 14:00
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