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Competition and Increasing Returns

  • Amendola Mario

    ()

    (University of Roma La Sapienza, Dipartimento di Economia, Piazzale Aldo Moro, 5, 00185 Roma, Box 83 Roma 62, Italy)

  • Gaffard Jean-Luc

    ()

    (OFCE, SKEMA Business School, 60 rue Dostoïevski, 06902 Sophia Antipolis Cedex, French)

The paper demonstrates the compatibility between competition as a rivalry among firms and increasing returns resulting from innovative choice. The analysis offers the prospect of a general theory of economic evolution. It is carried out by means of a model, which makes it possible to exhibit the time structure of production processes and to sketch out the sequential interaction of decisions in a process of restructuring of productive capacities for the whole economy. It shows that several firms can coexist in the market, despite the existence of increasing returns, yet remain differentiated not so much because they supply differentiated goods, but because they are each one at a different stage of the life cycle of the production process.

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Article provided by De Gruyter in its journal Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik).

Volume (Year): 234 (2014)
Issue (Month): 2-3 (April)
Pages: 257-273

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Handle: RePEc:jns:jbstat:v:234:y:2014:i:2-3:p:257-273
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  1. Mario Amendola & Jean-Luc Gaffard, 1998. "Out of equilibrium," Post-Print halshs-00420523, HAL.
  2. G. B. Richardson, 1998. "The Economics of Imperfect Knowledge," Books, Edward Elgar Publishing, number 1524.
  3. Hicks, John, 1989. "A Market Theory of Money," OUP Catalogue, Oxford University Press, number 9780198287247, December.
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