J. Edward Chamberlin

J. Edward Chamberlin was an influential economist best known for developing the concept of product differentiation, which explains how businesses create differences among similar products to attract customers. His work clarified how competition works beyond just price, emphasizing the importance of branding, quality, and features in markets. Chamberlin's ideas helped shape modern microeconomics by showing that firms can compete through variety and innovation, not just price cuts. His contributions remain fundamental in understanding how markets operate and why consumers have choices among similar products.