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.
Download or read book On the Efficiency of Market Equilibrium in Production Economies written by Antonio Villar and published by . This book was released on 2000 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
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.
Download or read book Productive Efficiency written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-02-04 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Productive Efficiency According to the theory of microeconomics, productive efficiency refers to a situation in which the economy or an economic system that is operating within the restrictions of the current industrial technology is unable to expand production of one good without sacrificing production of another good. In layman's words, the idea is depicted on a production possibility frontier (PPF), which is a curve in which every point on the curve represents a point of productive efficiency. There is a possibility that an equilibrium could be productively efficient without also being allocatively efficient. This means that it could lead to a distribution of products that does not maximize the welfare of the community. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Productive efficiency Chapter 2: Microeconomics Chapter 3: Growth accounting Chapter 4: Economic efficiency Chapter 5: Profit maximization Chapter 6: Efficiency Chapter 7: X-inefficiency Chapter 8: Production-possibility frontier Chapter 9: Production function Chapter 10: Productivity Chapter 11: Welfare economics Chapter 12: Allocative efficiency Chapter 13: Data envelopment analysis Chapter 14: Returns to scale Chapter 15: Total factor productivity Chapter 16: Stochastic frontier analysis Chapter 17: Production (economics) Chapter 18: Productivity model Chapter 19: Marginal product Chapter 20: Michael James Farrell Chapter 21: Robin Sickles (II) Answering the public top questions about productive efficiency. (III) Real world examples for the usage of productive efficiency in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Productive Efficiency.
Download or read book Efficient Economic Growth written by Stefan Homburg and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is about the well-known problem that a perfectly competitive economy, even if endowed with perfect foresight, can grow in an efficient manner. The causes of this strange inefficiency are analyzed, and sufficientconditions for efficient economic growth are discussed. The most important contribution is the elaboration of a rather well-known, yet unproved, hypothesis which says that the existence of a nonproducible productive asset, like land, prevents dynamic inefficiency. This is shown to hold outside steady state growth paths. Applications of the theoretical concepts and results are straightforward and are discussed in detail. The applications include the efficient use of exhaustible resources over time, the possibility of "bubbles" in financial markets, the theory of interest rates, and questions concerning optimal social security.
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.
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.
Download or read book Economic Growth Efficiency and Inequality written by Satish K. Jain and published by Routledge. This book was released on 2015-06-05 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume deals with a range of contemporary issues in Indian and other world economies, with a focus on economic theory and policy and their longstanding implications. It analyses and predicts the mechanisms that can come into play to determine the function of institutions and the impact of public policy.
Download or read book Competitive Equilibrium written by Bryan Ellickson and published by Cambridge University Press. This book was released on 1993 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: The development of general equilibrium theory represents one of the greatest advances in economic analysis in the latter half of the twentieth century. This book, intended for advanced undergraduates and graduate students, provides a broad introduction to competitive equilibrium analysis with an emphasis on concrete applications. The first three chapters are introductory in nature, paving the way for the more advanced second half of the book. Relative to the competition, it is much more 'user friendly' while offering exceptionally broad coverage of topics. Well-designed and interesting applications help to make potentially abstract material more accessible. The book includes 92 illustrations and nearly 200 exercises.
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.
Download or read book Microeconomics written by Thijs ten Raa and published by Bloomsbury Publishing. This book was released on 2017-09-16 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Microeconomics: Equilibrium and Efficiency teaches how to apply microeconomic theory in an innovative, intuitive and concise way. Using real-world, empirical examples, this book not only covers the building blocks of the subject, but helps gain a broad understanding of microeconomic theory and models.
Download or read book On Efficiency and Comparative Advantage in Trade Equilibria Under Scale Economies written by William J. Baumol and published by . This book was released on 1994 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Efficiency written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-04-07 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Economic Efficiency In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts:Allocative or Pareto efficiency: any changes made to assist one person would harm another.Productive efficiency: no additional output of one good can be obtained without decreasing the output of another good, and production proceeds at the lowest possible average total cost. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Economic efficiency Chapter 2: Economics Chapter 3: Keynesian economics Chapter 4: Microeconomics Chapter 5: Neoclassical economics Chapter 6: Perfect competition Chapter 7: Pareto efficiency Chapter 8: General equilibrium theory Chapter 9: Market failure Chapter 10: New Keynesian economics Chapter 11: Economic globalization Chapter 12: Production-possibility frontier Chapter 13: Welfare economics Chapter 14: Allocative efficiency Chapter 15: Economic problem Chapter 16: Productive efficiency Chapter 17: Schools of economic thought Chapter 18: Neoclassical synthesis Chapter 19: New classical macroeconomics Chapter 20: Economic growth Chapter 21: Profit (economics) (II) Answering the public top questions about economic efficiency. (III) Real world examples for the usage of economic efficiency in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Economic Efficiency.
Download or read book Efficiency and Distortions in a Production Economy with Heterogeneous Beliefs written by Christian Heyerdahl-Larsen and published by . This book was released on 2015 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a production economy, in which agents have heterogeneous beliefs and a social planner has incomplete knowledge about which beliefs are correct, we introduce the concept of Incomplete Knowledge (IK) efficiency. IK-inefficient allocations can be improved upon without taking a stand on which belief, among a whole set of reasonable beliefs, is correct. We show that competitive equilibrium under heterogeneous beliefs is always IK-inefficient, and decompose this inefficiency into investment and speculative distortions. Overinvestment occurs in economies in which agents' elasticity of intertemporal substitution is high, whereas underinvestment arises when their elasticity is low. Using the IK concept to define mispricing, we show that equilibrium mispricing never arises intratermporally, but that intertemporal mispricing is generically present in economies with rich state spaces and heterogeneous beliefs. Finally, we argue that investment distortions may be easier to address by a social planner than speculative distortions in economies with idiosyncratic endowment shocks, and also show that transaction taxes may be welfare decreasing in such economies.
Download or read book Uniqueness of Equilibrium in Production Economies written by Timothy Jerome Kehoe and published by . This book was released on 1980 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Markets and Democracy written by Samuel Bowles and published by Cambridge University Press. This book was released on 1993-07-22 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book asks whether a modern, efficient economy can be rendered democratically accountable, and, if so, what strategic changes might be required to regulate the market- based interaction of economic agents. The contributors bring contemporary microeconomic theory to bear in an attempt to find a progressive replacement to traditional state socialism. Various approaches to the study of economic interaction are considered in an attempt to understand the relationship between power and efficiency in market economies.
