Objective The presence of increasing returns to scale in production sectors such as electricity, railways, etc, and the failure of the competitive mechanism in such an environment, are widely recognized.Formulations have been provided of the second fundamental welfare theorem without convexity assumption on the production sets of firms, and the validity of the first welfare theorem has been investigated.The existence of equilibria in economies with increasing returns has been studied. Previous work has been generalized by allowing, in particular, the preferences of the consumers to be nontransitive. Programme(s) FP2-SPES - European stimulation plan (EEC) for economic science (SPES), 1989-1992 Topic(s) Data not available Call for proposal Data not available Funding Scheme CSC - Cost-sharing contracts Coordinator UNIVERSITE CATHOLIQUE DE LOUVAIN EU contribution No data Address Place De L'Universite 1 LOUVAIN-LA-NEUVE Belgium See on map Links Website Opens in new window Total cost No data
