By studying the effect of different patterns of demand in an evolutionary selection model this paper shows how product differentiation reduces competitive selection pressure and thus increases the chances for the coexistence of firms. With the example of a duopoly it shows that: (1) a monopoly is the likely outcome of competition in homogeneous products, (2) although product differentiation doe...

We examine how product similarity and competition influences mergers and acquisitions and the ability of firms to exploit product market synergies. Using novel text-based analysis of firm 10K product descriptions, we find three key results. (1) Firms are more likely to enter restructuring transactions when the language describing their assets is similar to all other firms, consistent with their...

We start the survey by reviewing the implications of horizontal and vertical product differentiation on market structure under the assumption of single-product firms. Then, we analyse the main results of the multi-product firm models, both when variants are assumed differentiated in vertical attributes only and when variants are assumed differentiated in two dimensions (vertical and horizontal)...

This paper provides a simple model of endogenous horizontal product differentiation that has two important implications. First, the model can explain the “empirical Bertrand paradox” – the failure to observe homogeneous product Bertrand oligopoly. If product differentiation is possible at reasonable cost, then Bertrand firms would always invest in product differentiation. Using a quadratic util...

Marek’s disease (MD) is a lymphoproliferative disease of chickens characterized by lymphocyticinfiltration of various organs. The present study was an attempt to use polymerase chain reaction (PCR) tooptimize a rapid and reliable assay for detection of MDV genome. Detection of serotype 1 of MDV (MDV-1)was confirmed by presence of a 200 bp DNA fragment as a PCR product. Differentiation of MDV-1 ...

Technology spillover from trade channel is important. Absorbing foreign technology by the channel of importation and using the latent technology in those products create export development, increase the quality and quantity of manufactured goods, and modify management, technology improvements and production of goods with high added value; this might favorise optimal allocation of resources. Imp...

New information and communication technology (ICT) makes consumers better informed about available products, product quality and prices, which mitigates problems of asymmetric information. The entry of firms is facilitated, competition and economic efficiency is boosted and the market powers of households increased. Firms are likely to respond by increased product and price differentiation. The...