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Release : 1995
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Product Innovation Under Vertical Differentiation and the Persistence of Monopoly - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Product Innovation Under Vertical Differentiation and the Persistence of Monopoly write by . This book was released on 1995. Product Innovation Under Vertical Differentiation and the Persistence of Monopoly available in PDF, EPUB and Kindle. The incentives to innovate for the incumbent and the entrant in a vertically differentiated market are analised, in the absence of uncertainty. It turns out that if consumers marginal willingness to pay for quality is sufficiently low, the efficiency effect observationally works so as to favour innovation by the entrant, i.e., competition. Otherwise, it operates to the advantage of the incumbent who acquire the right to innovate, preempting thus the rival.