  We study the dynamic yield stress in dense colloidal suspensions by analyzing
the time evolution of the pair distribution function for colloidal particles
interacting through a Lennard-Jones potential. We find that the equilibrium
pair distribution function is unstable with respect to a certain anisotropic
perturbation in the regime of low temperature and high density. By applying a
bifurcation analysis to a system near the critical state at which the stability
changes, we derive an amplitude equation for the critical mode. This equation
is analogous to order parameter equations used to describe phase transitions.
It is found that this amplitude equation describes the appearance of the
dynamic yield stress, and it gives a value of 2/3 for the shear thinning
exponent. This value is related to the mean field value of the critical
exponent $\delta$ in the Ising model.
