General Equilibrium With Increasing Returns

General Equilibrium With Increasing Returns Synopsis

This monograph provides a formal and systematic exposition of the main results on the existence and optimality of equilibria in economies with increasing returns to scale. For that, a general equilibrium model is carefully constructed first by means of a precise formalization of consumers and firms, and the proof of an abstract existence result. The analysis shifts then to the study of specific normative and positive models which are particularizations the general one, and to the study of the efficiency of equilibrium allocations. The book provides an unified approach of the topic, it maintains a relatively low mathematical complexity and offers a highly self-contained exposition.