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Competition and increasing returns

Author

Listed:
  • Mario Amendola

    () (Università degli Studi di Roma "La Sapienza" [Rome])

  • Jean-Luc Gaffard

    () (SKEMA Business School - SKEMA Business School, GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis - UCA - Université Côte d'Azur - CNRS - Centre National de la Recherche Scientifique - UCA - Université Côte d'Azur , OFCE - Observatoire Français des Conjonctures économiques - Institut d'Études Politiques [IEP] - Paris - Fondation Nationale des Sciences Politiques [FNSP])

Abstract

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.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Mario Amendola & Jean-Luc Gaffard, 2014. "Competition and increasing returns," Post-Print halshs-00933283, HAL.
  • Handle: RePEc:hal:journl:halshs-00933283
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00933283
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    References listed on IDEAS

    as
    1. Hicks, John, 2017. "A Market Theory of Money," OUP Catalogue, Oxford University Press, number 9780198796237.
    2. G. B. Richardson, 1998. "The Economics of Imperfect Knowledge," Books, Edward Elgar Publishing, number 1524.
    3. Amendola, Mario & Gaffard, Jean-Luc, 1998. "Out of Equilibrium," OUP Catalogue, Oxford University Press, number 9780198293804.
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    More about this item

    Keywords

    general theory; economic evolution;

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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