The Indenterminacy of Equilibrium City Formation under

  • 研討會日期 : 2003-02-18
  • 時間 : 15:00
  • 主講人 : Prof. Fan-chin Kung
  • 地點 : B棟110室
  • 演講者簡介 : Prof. Fan-chin Kung為Ph.D. in Economics, Washington University (2002)。 現為Adjunct Assistant Professor,Saint Louis University。 其主要研究領域為Game Theory、General Equilibrium、Public Economics及Urban and Regional Economics。
  • 演講摘要 : We study the determinacy of equilibria in the Fujita-Krugman (1995) model of city formation under monopolistic competition and increasing returns. We allow both the number and the locations of cities to be endogenous. Assuming smooth transportation costs, we examine equilibria in city-economies where a finite number of cities form endogenously. For any positive integer K, the set of equilibria with K distinct cities has a smooth manifold of dimension K-1 as its interior for almost all parameter values in a regular parameterization. The disjoint union of these sets with any integer K of cities constitutes the whole equilibrium set.