Chamberlin, Edward

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Chamberlin, Edward,

1866–1967, American economist, b. LaConner, Wash. He taught economics at Harvard (1937–67) and made significant contributions to microeconomics, particularly on competition theory and consumer choice, and their connection to prices. One of the most influential economists of his time, Chamberlin coined the term "product differentiation" to describe how a supplier may be able to charge a greater amount for a product than perfect competition would allow. His works include Theory of Monopolistic Competition (1933, 8th ed. 1962) and Toward a More General Theory of Value (1957, repr. 1982).