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Increasing Returns and Efficiency
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Increasing Returns and Efficiency

Martine Quinzii

Abstract

Increasing returns to scale is an area in economics that is becoming more important in the literature. The economic phenomenon of increasing returns presents serious conceptual difficulties for the traditional competitive theory of resource allocation. While most firms exhibit constant or decreasing returns to scale, some firms manufacture products whose technology permits increasing returns to scale that 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 th ... More

Keywords: increasing returns, resource allocation, decreasing returns, economic activity, general equilibrium, production, efficiency, public sector, private sector

Bibliographic Information

Print publication date: 1993 Print ISBN-13: 9780195065534
Published to Oxford Scholarship Online: October 2011 DOI:10.1093/acprof:oso/9780195065534.001.0001

Authors

Affiliations are at time of print publication.

Martine Quinzii, author
University of Southern California