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General Equilibrium With Increasing Returns
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Book Synopsis General Equilibrium with Increasing Returns by : Antonio Villar
Download or read book General Equilibrium with Increasing Returns written by Antonio Villar and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book on general equilibrium in which firms are allowed to exhibit increasing returns to scale (more precisely, in which the convexity of production sets is not assumed). As such, it provides a full fledged general equilibrium model and analyzes the chief questions concerning existence and optimality. Increasing returns is a topic which many economists find it to be simultaneously very imponant, very difficult and very discouraging. It is very important because it refers to a well established technological phenomenon which is essentially incompatible with the functioning of competitive markets. It is very difficult because the standard concepts and tools for the analysis fail (in particular, the supply mappings are not well defined). It is very discouraging because the available models do not seem to solve the basic questions: Normative models where nonconvex firms follow marginal pricing do not achieve efficient outcomes, and positive models cannot incorporate monopolistic competition as a way of defming the behavior of those firms with increasing returns to scale. I would like to think that this monograph will contribute to show that "the increasing returns question" is neither too difficult nor too discouraging. Concerning the difficulty, it will be shown that the analysis can be carried out with essentially the same tools as those applicable to the standard competitive model. As for the relevance of the results available, let me point out the following.
Book Synopsis General Equilibrium Analysis of Production and Increasing Returns by : Takashi Suzuki
Download or read book General Equilibrium Analysis of Production and Increasing Returns written by Takashi Suzuki and published by World Scientific. This book was released on 2009 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: A unique feature of the book compared to classical monographs on GE is its emphasis on the historical nature of the subject, and not only the mathematical nature. Students are expected to learn that those mathematically formidable techniques are indeed necessary for tackling many economic problems which have been significant not only in the mathematical or technical context, but also in the historical and traditional context.
Book Synopsis Fundamentals Of General Equilibrium Analysis by : Takashi Suzuki
Download or read book Fundamentals Of General Equilibrium Analysis written by Takashi Suzuki and published by World Scientific. This book was released on 2020-09-03 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this book is to incorporate Marshallian ideas such as external increasing returns and monopolistic competitions into the general equilibrium framework of Walrasian tradition. New chapters and sections have been added to this revised and expanded edition of General Equilibrium Analysis of Production and Increasing Returns (World Scientific, 2009).The new material includes a presentation of equilibrium existence and core equivalence theorems for an infinite horizon economy with a measure space of consumers. These results are currently the focus of extensive studies by mathematical theorists, and are obtained by an application of an advanced mathematical concept called saturated (super-atomless) measure space.The second major change is the inclusion of a simple toy model of a liberal society which implements the difference principle proposed by J Rawls as a principle of distributive justice. This new section opens up a possibility to connect theoretical economics and political philosophy.Thirdly, the author presents the marginal cost pricing equilibrium and discusses welfare properties of the external increasing returns, which also belong to Marshall/ Pigou tradition of the Cambridge school.Finally, a new mathematical appendix treats basics of singular homology theory. Although the fixed point theorem is originally a theorem of algebraic topology, most economic students know its proof only in the context of the differentiable manifold theory presented by J Milnor. Considering the significance of the fixed point theorem and its playing a key role in general equilibrium theory, the purpose of this new appendix is to provide readers with the idea of a proof of Brower's fixed point theorem from the 'right place'.This volume will be helpful for graduate students and researchers of mathematical economics, game theory, and microeconomics.
Book Synopsis Essays in Dynamic General Equilibrium Theory by : Alessandro Citanna
Download or read book Essays in Dynamic General Equilibrium Theory written by Alessandro Citanna and published by Springer Science & Business Media. This book was released on 2006-01-11 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the area of dynamic economics, David Cass’s work has spawned a number of important lines of research, including the study of dynamic general equilibrium theory, the concept of sunspot equilibria, and general equilibrium theory when markets are incomplete. Based on these contributions, this volume contains new developments in the field, written by Cass's students and co-authors.
Book Synopsis Increasing Returns and Efficiency by : Martine Quinzii
Download or read book Increasing Returns and Efficiency written by Martine Quinzii and published by Oxford University Press. This book was released on 1993-01-07 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increasing returns to scale is an area in economics that has recently become the focus of much attention. While most firms operate under constant or decreasing return to scale on their relevant range of production, some firms produce goods or services with a technology which exhibits increasing returns to scale at levels of production which are large relative to the market. These goods are an important component of economic activity in a modern economy and are typically commodities produced either by a public sector or, as in the U.S., by regulated utilities. In this study, the author analyzes increasing returns using general equilibrium theory to take into account the interactions between production in the public and the private sector, and the effects of financing the public sector on the redistribution of income.
Book Synopsis Exploring General Equilibrium by : Fischer S. Black
Download or read book Exploring General Equilibrium written by Fischer S. Black and published by MIT Press. This book was released on 2010-05-21 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: An incisive, unconventional assessment of general equilibrium theory; with a previously unpublished paper. Fischer Black is known for his brilliance as well as his sometimes controversial opinions. Highly respected for his scholarly writings in finance, he now moves into different territory with this incisive, unconventional assessment of general equilibrium theory and what that theory reveals about business cycles, growth, and labor economics. The general equilibrium approach, Black asserts, can be used to explain most of the economy's behavior. It can explain business cycles and growth without using sticky prices, irrationality, economies of scale, or imperfect competition. It can explain the volatility of consumption, output, sales, investment, and inventories with axiomatic utility and constant-returns-to-scale production. It can explain temporary layoffs, job changes with and without intervening unemployment, and the behavior of vacancies. It can explain lower wages in part-time jobs, wages that increase rapidly with time on the job, and the forces that cause migration from poor to rich countries. Although the general equilibrium approach can't be tested in conventional ways, it can be used to generate examples that explain stylized facts—generalized observations from the real world—that have preoccupied macroeconomists for the last decade. Black contrasts his interpretation of these facts with conventional interpretations. Finally, he reviews a substantial body of literature on these topics.
Book Synopsis Increasing Returns and Efficiency by : Martine Quinzii
Download or read book Increasing Returns and Efficiency written by Martine Quinzii and published by . This book was released on 1992 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis A Search-equilibrium Approach to the Micro Foundations of Macroeconomics by : Peter A. Diamond
Download or read book A Search-equilibrium Approach to the Micro Foundations of Macroeconomics written by Peter A. Diamond and published by MIT Press. This book was released on 1984 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: Peter A. Diamond discusses search equilibrium as a framework for integrating micro and macroeconomics.
Book Synopsis A General Equilibrium Analysis of US Foreign Trade Policy by : Jaime De Melo
Download or read book A General Equilibrium Analysis of US Foreign Trade Policy written by Jaime De Melo and published by MIT Press. This book was released on 1992 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors' model is the first large-scale computer simulation of the effects of changes in U.S. import quotas.
Book Synopsis Equilibrium and Efficiency in Production Economies by : Antonio Villar
Download or read book Equilibrium and Efficiency in Production Economies written by Antonio Villar and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a substantially revised and enlarged version of the monograph General Equilibrium with Increasing Returns, published by Springer-Verlag as a Lecture Notes volume in 1996. It incorporates new topics and the most recent developments in the field. It also provides a more systematic analysis of the differences between production economies with and without convex production sets. Five out of twelve chapters are new, and most of the remaining ones have been reformulated. An outline of contents appears in chapter 1. As its predecessor, this book contains a formal and systematic exposition of the main results on the existence and efficiency of equilibrium, in production economies where production sets need not be convex. There is an explicit attempt at making of it a suitable reference both for graduate students and researchers interested in theory (not necessarily specialists in mathematical economics). With this twofold purpose in mind, the work has been written according to three key principles: (i) To provide a uhified approach to the problems involved. For that we construct a basic model that is rich enough to encompass the different models appearing throughout, and to derive all the results as coroilaries of a reduced number of general theorems. (ii) To maintain a relatively low mathematical complexity. Thus, when the estimated cost of generality exceeds the benefit of simplicity, we shall state and prove the theorems under assumptions that need not be the most general ones.
Book Synopsis Fundamentals of General Equilibrium Analysis by : Takashi Suzuki
Download or read book Fundamentals of General Equilibrium Analysis written by Takashi Suzuki and published by World Scientific Publishing Company. This book was released on 2020 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this book is to incorporate Marshallian ideas such as external increasing returns and monopolistic competitions into the general equilibrium framework of Walrasian tradition. New chapters and sections have been added to this revised and expanded edition of General Equilibrium Analysis of Production and Increasing Returns (World Scientific, 2009).The new material includes a presentation of equilibrium existence and core equivalence theorems for an infinite horizon economy with a measure space of consumers. These results are currently the focus of extensive studies by mathematical theorists, and are obtained by an application of an advanced mathematical concept called saturated (super-atomless) measure space.The second major change is the inclusion of a simple toy model of a liberal society which implements the difference principle proposed by J Rawls as a principle of distributive justice. This new section opens up a possibility to connect theoretical economics and political philosophy.Thirdly, the author presents the marginal cost pricing equilibrium and discusses welfare properties of the external increasing returns, which also belong to Marshall/ Pigou tradition of the Cambridge school.Finally, a new mathematical appendix treats basics of singular homology theory. Although the fixed point theorem is originally a theorem of algebraic topology, most economic students know its proof only in the context of the differentiable manifold theory presented by J Milnor. Considering the significance of the fixed point theorem and its playing a key role in general equilibrium theory, the purpose of this new appendix is to provide readers with the idea of a proof of Brower's fixed point theorem from the 'right place'.This volume will be helpful for graduate students and researchers of mathematical economics, game theory, and microeconomics.
Book Synopsis The Theory of General Economic Equilibrium by : Andreu Mas-Colell
Download or read book The Theory of General Economic Equilibrium written by Andreu Mas-Colell and published by Cambridge University Press. This book was released on 1985 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together the author's pioneering work, written over the last twenty years, on the use of differential methods in general equilibrium theory.
Book Synopsis General Equilibrium Theory and International Trade by : Takashi Negishi
Download or read book General Equilibrium Theory and International Trade written by Takashi Negishi and published by . This book was released on 1972 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis General Equilibrium, Overlapping Generations Models, and Optimal Growth Theory by : Truman F. Bewley
Download or read book General Equilibrium, Overlapping Generations Models, and Optimal Growth Theory written by Truman F. Bewley and published by Harvard University Press. This book was released on 2007-02-28 with total page 615 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an original exposition of general equilibrium theory for advanced undergraduate and graduate-level students of economics. It contains detailed discussions of economic efficiency, competitive equilibrium, the first and second welfare theorems, the Kuhn-Tucker approach to general equilibrium, the Arrow-Debreu model, and rational expectations equilibrium and the permanent income hypothesis. Truman Bewley also treats optimal growth and overlapping generations models as special cases of the general equilibrium model. He uses the model and the first and second welfare theorems to explain the main ideas of insurance, capital theory, growth theory, and social security. It enables him to present a unified approach to portions of macro- as well as microeconomic theory. The book contains problems sets for most chapters.
Book Synopsis Theory of General Economic Equilibrium by : Trout Rader
Download or read book Theory of General Economic Equilibrium written by Trout Rader and published by Academic Press. This book was released on 2014-05-10 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theory of General Economic Equilibrium provides information pertinent to the general economic equilibrium theory. This book covers a variety of topics, including efficiency, economic systems analysis, welfare economics, and international trade. Organized into three parts encompassing eight chapters, this book begins with an overview of the theory of efficient production and growth where consumer preferences play a subordinate role. This text then examines that for the case where preferences satisfy appropriate conditions, efficiency theory is superseded as normative analysis by optimality theory. Other chapters consider the optimization of consumer preferences that leads to the decline of many families. This book discusses as well the existence of equilibrium, which is of importance to both normative and positive economics. The final chapter deals with the question of the speed with which the economic system attains its equilibrium state, which is assumed to be stationary. This book is a valuable resource for professional economists and advanced graduate students in economics.
Book Synopsis Equilibrium Theory and Applications by : William A. Barnett
Download or read book Equilibrium Theory and Applications written by William A. Barnett and published by Cambridge University Press. This book was released on 1991 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Sixth Annual International Symposium in Economic Theory and Econometrics was dedicated to Jacques Drèze on the occasion of his retirement.
Book Synopsis Introduction to Computable General Equilibrium Models by : Mary E. Burfisher
Download or read book Introduction to Computable General Equilibrium Models written by Mary E. Burfisher and published by Cambridge University Press. This book was released on 2017-02 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.
