The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Non-price Competition

  • K. J. Lancaster
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1739

Abstract

In markets for any goods but those which are absolutely homogeneous in both reality and perception, there are many ways in which firms may compete, price being one, but only one of these. The others include advertising and other forms of increased selling effort, product differentiation, improvement in product quality, customer service, warranties and the like, and bundling of other goods or services without charge or at low prices.

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Bibliography

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  3. Spence, A.M. 1977. Nonprice competition. American Economic Review 67: 255–259.Google Scholar
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • K. J. Lancaster
    • 1
  1. 1.