A Hypothesis About The Supply Function In The
Tourist Industry
Author(s)
F. Zaccaria & C. Bizzarri
Abstract
This paper deals with the supply function trend in the tourism industry. In this
regard, Sraffa’s theory is based on a strong link between a perfectly competitive
system and supply at constant cost and consequently with stabile supply prices.
The paper’s purpose is to present an analysis of specific problems of the supply
trend in the tourism industry. Brief research shows that the tourism industry has
a decreasing trend. The supply function’s character is due to internal economies
and chiefly to external economies. An analysis on trends of the tourism industry
proves that this sector of the economy operates in a system that is not of perfect
competition but is characterized by imperfect or monopolistic competition. At a
certain point of function we can remark on an opposite trend because the
function begins to rise.
Keywords: supply function, tourism development, environmental quality,
political economy.
1 The Sraffian hypothesis of a constant supply function in a
perfectly competitive market
The trend of the supply function of an industry is a crucial problem for the
contemporary economy. The theory of supply has been extensively discussed in
Economics, which has developed explanatory hypotheses on several occasions. It
is only worth mentioning here the distinction between a company and an
industry, the former being an individual productive unit with its own supply
function and the latter a sum of the companies existing on the market. Thus, all
the companies form the industry as a whole, and the sum of the companies
supply determines the supply of the industry. A fundamental assumption of the
Keywords
supply function, tourism development, environmental quality,
political economy.
Related Book
Other papers in this volume
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