This paper reviews the implications of increasing returns for several areas of economics: resource allocation and welfare economics; the micro foundations of macroeconomics; product variety and imperfect competition; information and information technology; economic growth; international trade. These cover the fields in which increasing returns cause departures from the results otherwise available.
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Paper provided by Columbia - Graduate School of Business in its series Papers with number
97-20.
Find related papers by JEL classification: D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
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