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Industry equilibrium and welfare in monopolistic competition under uncertainty
Alexander Shapoval, V. M. Goncharenko, 2020, original scientific article

Abstract: This paper offers a new theory that describes the influence of uncertainty on economic fundamentals. This theory posits that uncertainty can improve social welfare. We argue that in an economy, where spending of the customers for the differentiated good correlates with larger substitutability of its varieties, the equilibrium output decreases and the prices increase when uncertainty appears. Alternatively, if such spending and substitutability anti-correlate, the predictions for the price and output changes are reversed. The arguments are based on general equilibrium modeling with the monopolistic competition of firms which produce varieties of the differentiated good under limited information regarding the consumer demand. The impact of uncertainty on the equilibrium is assessed by using the relationship between the weighted elasticity of substitution between varieties, the elasticity of the consumer utility, and the income share spent on the differentiated good.
Found in: osebi
Keywords: monopolistic competition, uncertain demand, general utility, consumer welfare
Published: 22.03.2021; Views: 1104; Downloads: 0
.pdf Fulltext (547,06 KB)

Vlijanie struktury sprosa i razmera rynka na bezrabotitsu, neravenstvo dohodov i obščestvennoe blagosostojanie
V. M. Goncharenko, Alexander Shapoval, 2018, original scientific article

Found in: osebi
Published: 24.03.2021; Views: 1095; Downloads: 0
.pdf Fulltext (1,02 MB)

Model of general equilibrium in multisector economy with monopolistic competition and hypergeometric utilities
Vasily M. Goncharenko, Larisa V. Lipagina, Alexander Shapoval, 2020, published scientific conference contribution

Found in: osebi
Keywords: general equilibrium, monopolistic competition
Published: 07.04.2021; Views: 1013; Downloads: 45
URL Fulltext (0,00 KB)
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Mismatch of supply and demand as a response to demand uncertainty
Alexander Shapoval, Vasily M. Goncharenko, 2016, original scientific article

Found in: osebi
Keywords: general equilibrium, monopolistic competition
Published: 07.04.2021; Views: 945; Downloads: 0
.pdf Fulltext (213,36 KB)

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