Publication: Challenging the incumbent: entry in markets with captive consumers and taste heterogeneity
Challenging the incumbent: entry in markets with captive consumers and taste heterogeneity
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Oertel, C., & Schmutzler, A. (2021). Challenging the incumbent: entry in markets with captive consumers and taste heterogeneity (No. 386; Working Paper Series / Department of Economics).
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We analyze entry of a firm with a new and differentiated product into a market with two properties: An existing incumbent has a captive consumer base, and all consumers have heterogeneous tastes. The interaction of the share of captive consumers with the degree of taste heterogeneity leads to non-monotone effects of both parameters on entry. In particular, a higher captive share can support entry when heterogeneity is low but not when it is high, and higher taste heterogeneity (i.e., less product substitutability) can impede entry in
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Oertel, C., & Schmutzler, A. (2021). Challenging the incumbent: entry in markets with captive consumers and taste heterogeneity (No. 386; Working Paper Series / Department of Economics).
