General equilibrium theory and increasing returns : an alternative to the survival assumption

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General equilibrium theory and increasing returns : an alternative to the survival assumption

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Jean-Marc Bonnisseau () (CERMSEM)
Alexandrine Jamin () (CERMSEM)

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Jean-Marc Bonnisseau

Abstract

Existence results for equilibria in economies under increasing returns to scale, fixed costs, or showing more general types of non convexity in the production sector, strongly rest on a crucial condition, known as the survival assumption. This assumption is unsatisfactory in the sense that it poses a condition on the set of production equilibria, an endogenous variable. We propose here conditions on the firms’ characteristics, notably on the firms' pricing behaviour, under which the equilibrium existence can be proved.

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Paper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number b04017.

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Length: 6 pages
Date of creation: Feb 2004
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Handle: RePEc:mse:wpsorb:b04017

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Find related papers by JEL classification:
C62 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Existence and Stability Conditions of Equilibrium
C67 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Input-Output Models
D21 - Microeconomics - - Production and Organizations - - - Firm Behavior
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

This paper has been announced in the following NEP Reports:

NEP-ALL-2004-12-12 (All new papers)
NEP-MIC-2004-12-12 (Microeconomics)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Guesnerie, Roger, 1975. "Pareto Optimality in Non-Convex Economies," Econometrica, Econometric Society, vol. 43(1), pages 1-29, January. [Downloadable!] (restricted)
Vohra, Rajiv, 1992. "Marginal Cost Pricing under Bounded Marginal Returns," Econometrica, Econometric Society, vol. 60(4), pages 859-76, July. [Downloadable!] (restricted)
Cornet, Bernard, 1988. "General equilibrium theory and increasing returns : Presentation," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 103-118, April. [Downloadable!] (restricted)

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