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    Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/66517

    Title: Monopoly Power, Increasing Returns to Variety, and Local Indeterminacy
    Authors: Chang, Juin-jen;Hung, Hsiao-wen;Huang, Chun-chieh
    Contributors: 淡江大學產業經濟學系
    Keywords: Local indeterminacy;increasing returns to variety;entry
    Date: 2009-12
    Issue Date: 2012-12-03 23:22:02 (UTC+8)
    Publisher: Taipei: Department of Industrial Economics, Tamkang University
    Abstract: The required degree of increasing returns-to-scale to satisfy the Benhabib-Farmer condition for local indeterminacy is too high to be empirically plausible. In the paper, we develop a natural extension of Benhabib and Farmer's (1994, Journal of Economic Theory) model by introducing aggregation increasin! returns to variety. It is shown that an increase in the degree of monopoly power can create increasing retuns to an expansion in variety which decreases reliance on the degree of increasing returns-to-scale in production for generating local indeterminacy. As the degree of monopoly power increases, the required degree of increasing returns for local indeterminacy decreases monotonically. As a result, our numerical analysis indicates that the required degree of increasing returns for local indeterminacy can be easily located in the empirically plausible range.
    Relation: 2009 International Conference on Trade, Industrial and Regional Economics, 16p
    Appears in Collections:[Graduate Institute & Department of Industrial Economics] Proceeding

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