Author: W. Brian Arthur
Publisher: University of Michigan Press
ISBN: 9780472022403
Category : Business & Economics
Languages : en
Pages : 228

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Book Description
Pioneering work on an important new approach to economics.

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

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

Author: G. M. Heal
Publisher: Edward Elgar Pub
ISBN: 9781858981604
Category : Business & Economics
Languages : en
Pages : 598

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Book Description
'This volume in the series "The International Library of Critical Writings in Economics", is an essential reference source for researchers, containing a selection of most important and pioneering articles written by the most outstanding experts in the field. . . . Certainly, it is a benefit to economists to have all these path-breaking papers from widely scattered sources brought together conveniently. Such papers represent the progress of research, which already looks impressive. the volume will be an important stimulus to further research as well.' - Elettra Agliardi, the Economic Journal the Economics of Increasing Returns presents an authoritative collection of the most significant papers by leading scholars in this key area of economics.

Author: W. Brian Arthur
Publisher: Penguin UK
ISBN: 0141031638
Category : Business & Economics
Languages : en
Pages : 261

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Book Description
The Nature of Technology will change the way you think about this fundamental subject forever. W. Brian Arthur's many years of thinking and writing about technology have culminated in a unique understanding of his subject. Here he examines the nature of technology itself: what is it and how does it evolve? Giving rare insights into the evolution of specific technologies and a new framework for thinking about others, every sentence points to some further truth and fascination. At a time when we are ever more reliant on technological solutions for the world's problems, it is extraordinary how little we actually understand the processes that lead to innovation and invention. Until now. This will be a landmark book that will define its subject, and inspire people to think about technology in depth for the very first time.

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

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Book Description
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.

Author: Martine Quinzii
Publisher: Oxford University Press
ISBN: 0195362241
Category : Business & Economics
Languages : en
Pages : 174

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Book Description
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.

Author: Takashi Suzuki
Publisher: World Scientific
ISBN: 9812833323
Category : Business & Economics
Languages : en
Pages : 285

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Book Description
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.

Author: Elhanan Helpman
Publisher:
ISBN: 9780745001098
Category : Commerce
Languages : en
Pages : 271

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Book Description

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

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Book Description
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.

Author: W. Brian Arthur
Publisher:
ISBN:
Category :
Languages : en
Pages : 11

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Book Description