Increasing Returns and Economic Analysis

Increasing Returns and Economic Analysis

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  • Author: Kenneth J. Arrow
  • Publisher: Springer
  • ISBN: 1349262552
  • Category : Business & Economics
  • Languages : en
  • Pages : 478

Selected papers from many leading Australian, American, Asian, British and European economists of an international conference at Monash University sparked by the first Australian visit by Kenneth J. Arrow, Nobel Laureate in Economics. Part 1 extends the recently emerged New Classical Economics which uses inframarginal analysis to formally examine classical economic problems of specialization with insights on trade, growth, and many other issues. Part 2 analyses the implications of increasing returns and the associated non-perfect competition on some macro problems like the effects of nominal aggregate demand on output and the price level. Part 3 analyses the relationships of information, returns to scale, and issues of resources and trade.


Increasing Returns and Economic Efficiency

Increasing Returns and Economic Efficiency

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  • Author: Y. Ng
  • Publisher: Springer
  • ISBN: 0230236812
  • Category : Business & Economics
  • Languages : en
  • Pages : 200

Recognizing increasing returns disrupts much of the established wisdom in economic analysis, making money non-neutral, equity conflict with freedom, and encouraging goods with increasing returns efficient. This book discusses these problems and ways they can be handled, helping to explain phenomena in the real world.


The Return to Increasing Returns

The Return to Increasing Returns

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  • Author: James M. Buchanan
  • Publisher: University of Michigan Press
  • ISBN: 9780472104321
  • Category : Business & Economics
  • Languages : en
  • Pages : 400

Makes available important articles on increasing returns as related to the size of the economy


Increasing Returns and Economic Analysis

Increasing Returns and Economic Analysis

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  • Author:
  • Publisher:
  • ISBN:
  • Category : Economic development
  • Languages : en
  • Pages : 200


The Increasing Returns and Economic Efficiency

The Increasing Returns and Economic Efficiency

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  • Author: Yew-Kwang Ng
  • Publisher:
  • ISBN:
  • Category :
  • Languages : en
  • Pages : 19


The Economics of Increasing Returns

The Economics of Increasing Returns

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  • Author: Geoffrey M. Heal
  • Publisher:
  • ISBN:
  • Category :
  • Languages : en
  • Pages : 0

Increasing returns is the source of some of the most powerful metaphors and intuitions in economics. Foremost among them are Adam Smith's statement that the division of labor is limited by the extent of the market and his discussion of the relationship between scale and economies of specialization in a pin factory. There is a weakness, strictly an error, in Adam Smith's analysis. Two phenomena that he grouped together and saw as integral to economic progress are in fact inconsistent. These are increasing returns with the consequent gains from specialization and the efficiency of the invisible hand. We now know that a society cannot have both, at least if one interprets the efficiency of the invisible hand as the Pareto efficiency of the competitive equilibrium, our only rigorous interpretation. This paper reviews the implications of increasing returns for several areas of economics: resource allocation and welfare economics; the micro foundations of macroeconomics; product variety and imperfect competition; information and information technology; economic growth; international trade. These cover the fields in which increasing returns cause departures from the results otherwise available. These departures are rather significant. Recognizing increasing returns affects the possibility of market equilibrium, can introduce sticky prices, causes economies to lock-in to inefficient technologies and introduce path-dependence, affects the possibility of continuing growth, produces hard problems for regulators, and changes our conception of the effects of international trade. All in all, increasing returns can change quite radically our view of how the economy operates. They make the economy seem more complicated and pose a challenge to our vision of a benign and powerful invisible hand.


General Equilibrium Analysis of Production and Increasing Returns

General Equilibrium Analysis of Production and Increasing Returns

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  • Author:
  • Publisher:
  • ISBN: 9814470325
  • Category :
  • Languages : en
  • Pages :


Inframarginal Contributions to Development Economics

Inframarginal Contributions to Development Economics

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  • Author:
  • Publisher:
  • ISBN: 9814478601
  • Category :
  • Languages : en
  • Pages :


Increasing Returns and Efficiency

Increasing Returns and Efficiency

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  • Author: Martine Quinzii
  • Publisher: Oxford University Press, USA
  • ISBN: 0195065530
  • Category : Business & Economics
  • Languages : en
  • Pages : 174

This study analyzes increasing returns to scale using general equilibrium theory to take into account the interactions between production in the public and private sectors. It also explores how the redistribution of income has been effected by financing the private sector.


New Directions in Economic Geography

New Directions in Economic Geography

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  • Author: B. Fingleton
  • Publisher: Edward Elgar Publishing
  • ISBN: 184720421X
  • Category : Business & Economics
  • Languages : en
  • Pages : 379

This book is a serious attempt to cover all of the relevant subdisciplines in the geographical economics framework. . . I would recommend the book to students of economic geography, regional economics, and related disciplines. Frans Boekema, Journal of Regional Science . . . this book is empirically and theoretically comprehensive in its scope. The nearly eighteen authors who have contributed to this book present a truly transatlantic perspective on NEG. . . this volume will be extremely useful to those dealing with rigorous modelling to examine spatial issues in economics, geography and planning. Rajiv Thakur, Regional Science Policy and Practice I recommend the book. . . The papers of a high quality, well written and organized; empirical analyses are based on the most advanced empirical techniques, and the reader enjoys their application. Roberta Capello, Growth and Change A very interesting volume indeed, recommended reading for everyone interested in theorizing space in economics or working in the empirical spatial-economic research arena. Economic Geography Research Group This important book explores original and alternative directions for economic geography following the revolution precipitated by the advent of so-called new economic geography (NEG). Whilst, to some extent, the volume could be regarded as part of the inevitable creative destruction of NEG theory, it does promote the continuing role of theoretical and empirical contributions within spatial economic analysis, in which the rationale of scientific analysis and economic logic maintain a central place. With contributions from leading experts in the field, the book presents a comprehensive analysis of the extent to which NEG theory is supported in the real world. By exploring whether NEG theory can be effectively applied to provide practical insights, the authors highlight novel approaches, emerging trends, and promising new lines of enquiry in the wake of advances made by NEG. Rigorous yet engaging, this book will be an essential tool for academics and researchers specialising in regional studies, urban and spatial economics and economic geography. It will also have widespread appeal amongst policymakers involved in planning and land use.