Does the market deliver the right technology?

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• 作者：Eric Toulemonde ; ^{eric.toulemonde@unamur.be}
• 关键词：D1 ; D2 ; D4 ; L1
• 刊名：Economics Letters
• 出版年：2017
• 出版时间：January 2017
• 年：2017
• 卷：150
• 期：Complete
• 页码：95-98
• 全文大小：355 K
• 卷排序：150

文摘

Firms choose the technology that maximizes their profit. The size and the mass of firms/varieties vary with the technology choice. Firms do not internalize the effect of the technology choice on the mass of varieties. Under monopolistic competition, the mass of varieties affects welfare. Under conditions identified in the paper, firms choose the wrong technology.