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The concept of sector


  • BIDARD, Christian
  • ERREYGERS, Guido


We generalize the concept of industry, which stems from the analysis of single-product economies, to that of sector. The sector concept can be applied to economies with or without joint-product processes and pure capital goods. A ‘sectoral economy’ is an economy characterized by the ‘super-adjustment’ property: any strictly viable subset of methods can adapt itself to an arbitrary final demand. Given a few additional asumptions, the competitive prices are minimal in a sectoral economy, so that the subset of competitive methods is uniquely defined and the non-substitution property holds.

Suggested Citation

  • BIDARD, Christian & ERREYGERS, Guido, 1999. "The concept of sector," Working Papers 1999024, University of Antwerp, Faculty of Applied Economics.
  • Handle: RePEc:ant:wpaper:1999024

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    Linear models of production; Joint production; Fixed capital; Non-substitution;

    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies


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