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Comparative advantage under oligopoly

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  • Cordella, Tito
  • J. Gabszewicz, Jean

Abstract

We analyze the principle of comparative advantage when agents in the world market are aware of the influence their individual supply exerts on the equilibrium exchange rate of goods. We show that specialization following comparative disadvantage can be an oligopoly equilibrium in a Ricardian economy. Moreover, for a wide class of economies, it is the only one. Nonetheless, when the number of agents in each country increases without limit, the equilibrium in which specialization follows comparative advant.age again obtains.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of International Economics.

Volume (Year): 43 (1997)
Issue (Month): 3-4 (November)
Pages: 333-346

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Handle: RePEc:eee:inecon:v:43:y:1997:i:3-4:p:333-346

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Web page: http://www.elsevier.com/locate/inca/505552

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References

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  1. Findlay, Ronald, 1984. "Growth and development in trade models," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 1, chapter 4, pages 185-236 Elsevier.
  2. Diamond, Peter A, 1982. "Aggregate Demand Management in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 881-94, October.
  3. Cordella, T. & Gabszewicz, J. J., . "Comparative advantage under oligopoly," CORE Discussion Papers RP -1286, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. Jaskold Gabszewicz, Jean & Vial, Jean-Philippe, 1972. "Oligopoly "A la cournot" in a general equilibrium analysis," Journal of Economic Theory, Elsevier, vol. 4(3), pages 381-400, June.
  5. repec:fth:louvco:9307 is not listed on IDEAS
  6. Jones, Ronald W. & Peter Neary, J., 1984. "The positive theory of international trade," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 1, chapter 1, pages 1-62 Elsevier.
  7. Shapley, Lloyd S & Shubik, Martin, 1977. "Trade Using One Commodity as a Means of Payment," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 937-68, October.
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Citations

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Cited by:
  1. CORDELLA, Tito & GABSZEWICZ, Jean, 1993. "Comparative Advantage under Oligopoly," CORE Discussion Papers 1993007, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Ramón Torregrosa, 2008. "Macroeconomic effects of an indirect tax substitution," Journal of Economics, Springer, vol. 94(3), pages 199-221, September.
  3. Ruffin, Roy J., 2003. "Oligopoly and trade: what, how much, and for whom?," Journal of International Economics, Elsevier, vol. 60(2), pages 315-335, August.
  4. Jean-Marc Bonnisseau & Michael Florig, 2005. "Non-existence of Duopoly Equilibria: A Simple Numerical Example," Journal of Economics, Springer, vol. 85(1), pages 65-71, 07.
  5. E. Bacchiega, 2011. "Comparative Advantage Under Monopoly: A Note On the Role of Market Power," Working Papers wp724, Dipartimento Scienze Economiche, Universita' di Bologna.
  6. Eric O'N. Fisher & Vikas Kakkar, 2001. "On the Evolution of Comparative Advantage in a Matching Model," Working Papers 01-08, Ohio State University, Department of Economics.
  7. Fisher, Eric ON. & Kakkar, Vikas, 2004. "On the evolution of comparative advantage in matching models," Journal of International Economics, Elsevier, vol. 64(1), pages 169-193, October.
  8. Bacchiega, Emanuele, 2013. "A note on the effects of market power distribution in Cordella and Gabszewicz's Ricardian model," Research in Economics, Elsevier, vol. 67(2), pages 111-116.
  9. J Peter Neary, 2001. "Foreign Competition and Wage Inequality," Working Papers 200102, School Of Economics, University College Dublin.

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