Comparative advantage under oligopoly
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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|Note:||In : Journal of International Economics, 43, 333-346, 1997|
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- JASKOLD GABSZEWICZ, Jean & VIAL, Jean-Philippe, "undated".
"Oligopoly "à la Cournot" in a general equilibrium analysis,"
CORE Discussion Papers RP
106, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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- Cordella, Tito & J. Gabszewicz, Jean, 1997.
"Comparative advantage under oligopoly,"
Journal of International Economics,
Elsevier, vol. 43(3-4), pages 333-346, November.
- CORDELLA, Tito & GABSZEWICZ, Jean, 1993. "Comparative Advantage under Oligopoly," CORE Discussion Papers 1993007, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Cordella, T. & Gabszewicz, J. J., "undated". "Comparative advantage under oligopoly," CORE Discussion Papers RP 1286, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- 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.
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