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Increasing Returns and Economic Efficiency

Increasing Returns and Economic Efficiency. More Seriously. Learning costs, indivisibilities giving rise to sizable fixed costs. Information and knowledge in production makes IR prevalent (Wilson 1975, Radner & Stiglitz 1984, Arrow 1995).

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527 views • 43 slides

A Simple Representative Agent Model

A Simple Representative Agent Model. Dr. Kai Sun. A simple representative agent model. Specify preferences, endowments, and technology Obtain optimal solution and equilibrium. A simple representative agent model. N consumers (they consume only one good) and no money (barter economy)

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96 views • 8 slides

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Representative firm - PowerPoint PPT Presentation

Increasing Returns and Economic Efficiency

A Simple Representative Agent Model