Monopoly Power and Endogenous Product Variety: Distortions and Remedies
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The inefficiencies related to endogenous product creation and variety under monopolistic competition are two-fold: one staticthe misalignment between consumers and producers regarding the value of a new variety; and one dynamictime variation in markups. Quantitatively, the welfare costs of the
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美国国家经济研究局创建时间：
2008-10-01
