Equilibrium and Efficiency in Production Economies

ISBN-13: 9783642640766 / Angielski / Miękka / 2011 / 278 str.

Antonio Villar

Opis

This book deals with the analysis of production economies in which firms may exhibit increasing returns to scale, or other forms of non-convexities. The study focuses on the existence and efficiency of equilibrium allocations, and the comparison with the standard competitive equilibrium model. A number of alternative pricing rules and equilibrium concepts are considered (marginal pricing, constrained profit maximization, mark-up pricing, valuation equilibria, non-linear input-output models, etc.).

Spis treści

Preliminaries.- Introduction.- Overview.- The setting.- References to the literature.- Consumers.- Introduction.- Consumption sets.- Preferences.- The utility function.- Wealth restrictions.- Consumers` behaviour.- References to the literature.- Production and Supply.- Introduction.- Production sets.- Efficiency, additivity, divisibility.- Returns to scale.- The behaviour of competitive firms.- References to the literature.- Competitive equilibrium.- Introduction.- The model.- Assumptions and consequences.- The existence of equilibrium.- Equilibrium and efficiency.- Abstract economies.- References to the literature.- Equilibrium with Non-Convex Firms.- Introduction.- Pricing rules.- The model.- The existence of equilibrium.- References to the literature.- Marginal Pricing.- Introduction.- Preliminaries.- Marginal pricing.- The efficiency problem.- References to the literature.- Increasing Returns and Monopolies.- Introduction.- The reference model.- Two-part marginal pricing.- The efficiency of two-part tariffs.- Perfect price discrimination.- References to the literature.- Loss-Free Pricing Rules.- Introduction.- The reference model.- Mark-up pricing.- Constrained profit maximization.- References to the literature.- Competition and Increasing Returns.- Introduction.- The reference model.- Competitive pricing.- Classical equilibrium.- References to the literature.- Non-Convexities as Public Goods.- Introduction.- The model.- Public competitive equilibrium.- Valuation equilibrium.- Examples.- References to the literature.- Input-Output Analysis.- Introduction.- The linear model.- Extensions.- References to the literature.- The Limits of the Economy.- Asymptotic cones.- Closes sums.- Structural properties of the economy.- References to the literature.