Taste for variety: Model of Grossman and Helpman.
Taste for variety: Model of Grossman and Helpman.
Taste for variety: Model of Grossman and Helpman.
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Variety expansionEquilibriumDynamics◮ The whole system is governed by equations on e <strong>and</strong> σ;◮ This is a 2-dimensional autonomous system;◮ The curve ė = 0 has a positive slope in e − σ space;◮ However, ˙σ = 0 curve has a different <strong>for</strong>m depending onparameters;◮ There are two distinct cases <strong>of</strong> dynamics;◮ They are defined by the conditions:hH < 1 s ; h H > 1 s . (40)
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