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Restrictions in Spatial Competition : The Effects on Firms and Consumers

Buechel, Berno ; Klein, Jan F.

In: Homo economicus, 2016, vol. 33, no. 1-2, p. 157-172

Despite the rich stream of research that evolved from Hotelling’s spatial competition model, the fact that firms’ strategies are constrained by their technological capabilities, the legal environment, or overriding corporate strategies is commonly neglected. We study a model of Hotelling–Downs competition in which two firms choose a position along a one-dimensional market given that...