Economics, Econometrics and Finance
4 years ago

Income inequality shapes prices and product variety in monopolistic markets.

SSRN Electronic Journal
Inequality, Market Power, and Product Diversity
Reto Foellmi, Josef Zweimüller

Paper Summary

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The article explores how income inequality impacts prices and product variety in a market with different consumer incomes. When people have different preferences, the distribution of income affects both the prices companies charge and the range of products available.