Titlebook: Equilibrium and Efficiency in Production Economies; Antonio Villar Book 2000Latest edition Springer-Verlag Berlin Heidelberg 2000 Allgemei

Medley

Input-Output Analysis,se coefficients are obtained empirically. When these coefficients are stable (eg when constant returns to scale prevail), equilibrium relations appear as the solutions to linear equation systems. The key tool for the computation of these coefficients is the input-output table, that is briefly presented below.

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名字的誤用

Production and Supply, elements of fixed capital (land, machinery, buildings), energy, other produced commodities, and different types of labour. Outputs are produced commodities that can be consumed, stored or used as new inputs. Note that “transformation”, here, has to be interpreted according to the notion of commodit

anaphylaxis

Competitive Equilibrium,ions provide a positive answer to the old question concerning the capability of prices and markets to coordinate economic activity in a decentralized framework. It will be shown that, under a set of well specified assumptions, markets are in themselves adequate institutions for the efficient allocat

patriot

Equilibrium with Non-Convex Firms, are not negligible. Such difficulties are both analytical and theoretical and are mainly concerned with the fact that the supply correspondence may not be convex-valued or even defined, so that the existence of competitive equilibrium will typically fail. This implies that, if we want to analyze a

Grandstand

Debility

Increasing Returns and Monopolies,cy calls for a single firm to serve the market. This is a fact already pointed out by John Stuart Mill: “It is obvious, for example, how great economy of labour would be obtained if London were supplied by a single gas or water company instead of the existing plurality. While there are even as many

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Competition and Increasing Returns,easing returns to scale. In order to do so, it will be assumed that non-convex firms exhibit a particular type of increasing returns to scale for which constrained profit maximization and average cost-pricing are compatible (. production sets).

Tractable

Non-Convexities as Public Goods, the allocation of resources in a way that is not fully captured by the price system. Therefore, the presence of increasing returns to scale, fixed costs, or other forms of non-convexities, can be interpreted as an instance of externalities or as a public good feature.