Titlebook: Increasing Returns and Economic Efficiency; Yew-Kwang Ng Book 2009 Palgrave Macmillan, a division of Macmillan Publishers Limited 2009 con

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Existence of Average-Cost Pricing Equilibria with Increasing Returns,Even in the presence of increasing returns and imperfectly competitive firms, the existence of an average-cost pricing equilibrium that is productively efficient (but in general not Pareto optimal) is demonstrated.

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Book 2009Recognizing increasing returns?disrupts much of the established wisdom in economic analysis, making money non-neutral, equity conflict with freedom, and encouraging goods with increasing returns efficient. This book discusses these problems and ways they can be handled, helping?to explain phenomena in the real world.

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Devastating Implications of Increasing Returns on Some Traditional Conclusions,ral; changes in nominal aggregate demand may affect either the real output or the price level. Pecuniary external effects may have efficiency implications. Market equilibria may be Pareto inefficient. All these may be true in the absence of other causation factors such as real external effects.

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