The dynamical instability of weakly interacting two-component Bose-Einstein condensates with coaxial quantized vortices is analytically investigated in a two-dimensional isotopic harmonic potential. We examine whether complex eigenvalues appear on the Bogoliubov-de Gennes equation, implying dynamical instability. Rather than solving the Bogoliubov-de Gennes equation numerically, we rely on a perturbative expansion with respect to the coupling constant which enables a simple, analytic approach. For each pair of winding numbers and for each magnetic quantum number, the ranges of inter-component coupling constant where the system is dynamically unstable are exhaustively obtained. Co-rotating and counter-rotating systems show distinctive behaviors. The latter is much more complicated than the former with respect to dynamical instability, particularly because radial excitations contribute to complex eigenvalues in counter-rotating systems.
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