Monopolistic competition and the stability of industrial equilibrium |
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| Affiliation: | 1. School of Mathematics and Physics, Lanzhou Jiaotong University, Lanzhou Gansu 730070, China;2. Department of Basic Science, Faculty of Computers and Informatics, Suez Canal University, Ismailia 41522, Egypt;3. School of Law, Zhejiang University of Finance and Economics, Hangzhou, Zhejiang 310018, China;4. Research Centre of Game theory and Economics Mathematics, Lanzhou Jiaotong University, Lanzhou Gansu 730070, China;5. Department of Mathematics, College of Science and Humanities in Al-Kharj, Prince Sattam bin Abdulaziz University, Al-Kharj 11942, Saudi Arabia;1. Division of Gastroenterology, Department of Medicine, Washington University School of Medicine, St. Louis, Missouri;2. Division of Gastroenterology and Hepatology, Center for Endoscopic Innovation, Research and Training, Perelman School of Medicine, University of Pennsylvania, Philadelphia, Pennsylvania 19104 |
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| Abstract: | We consider a two-sector economy, consisting of the differentiated-goods and the homogeneous-goods industries, where the former is monopolistically competitive with scale-economies. We show that the Chamberlinian tangency solution is unstable when the supply side is characterized by the Heckscher-Ohlin two-factor model. |
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