Econometrica: Sep, 1979, Volume 47, Issue 5

On Hotelling's "Stability in Competition"

https://doi.org/0012-9682(197909)47:5<1145:OH"IC>2.0.CO;2-I
p. 1145-1150

C. d’Aspremont, J. Jaskold Gabszewicz, J.-F. Thisse

The purpose of this note is to show that the so-called Principle of Minimum Differentiation, as based on Hotelling's 1929 paper "Stability in Competition," is invalid.