It is argued that the large debate which had organised in the recent period about the nature of returns to scale and the associated area of local indeterminacies within competitive economies was misplaced as soon as the environment encompassed more than one good. This is established through the...

The model developed in this paper extends the strategic location framework under Cournot competition in order to allow for different production costs across locations.

Avec une fonction de production a facteurs complementaires, une entreprise a l'equilibre stationnaire peut adopter une nouvelle technologie de production s'il est profitable de supporter des couts d'ajustement. On montre qu'a court terme les couts d'ajustement peuvent conduire l'entreprise a...

This contribution raises the importance of factors substitutability in multi-sectoral economies. The argument is developed within a basic environment with two goods and two inputs and is based upon a close articulation between the features of the frontier of the production possibility set and...

The core of an economy consists of those attainable allocations of the economy which no group of agents (coalition) can "improve upon". This paper presents a concept of core of a production economy with a finite number of agents with asymmetric information, a continuum of states and an infinite...

In this paper we generalize Magill and Shafer's analysis of generically complete markets in the presence of an open-ended horizon. Until now, the genericity argument in Duffie and Shafer has no satisfactory generalisation to the case of an open ended horizon. These difficulties are threefold:...