The citizens of Blingaling buy bling in a competitive market. Bling is sold by competitive firms with a marginal cost of y dollars/unit. The N citizens in the market are arranged in a circular social network, with each consumer connected only to her two neighbors, one to the left and one to the right. Let x¿ denote the consumption of bling by consumer i, xLdenote the consumption of her neighbor to the left, and xR denote the consumption of the neighbor to the right. Each consumer preferences

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