Re: [tlug] Re: Post my article on tlug.jp?

["Stephen J. Turnbull" <stephen@example.com>]

Brett Robson writes:

 > IIRC, that is called product differentiation which is considered 
 > non-economic competition.

As Curt described it, it is product differentiation, it isn't a
problem for analysis, and it's considered "non-price competition".
Not bad for a comment qualified with "IIRC". :-)

Product differentiation *does* tend to result in some monopoly power,
reducing welfare, but in important cases it is (a) small and (b)
counterbalanced by the value of variety to consumers.