A Hotelling long-run equilibrium model based on the microeconomics of optimization is developed to analyze the impact of market scale on specialization and standardization. Among our conclusions is that the degree of vertical division of labour and the number of varieties produced in a...

Though the various improvements and different measures of many aspects related to well being proposed by the Sarkozy Report will be very useful, an overall national success indicator to supplement/replace the traditional focus on GDP is needed. As an ultimate indicator, it has to be...

In an imperfectly competitive economy, a continuum of equilibria at the firm level exists under certain analytical conditions (Ng 1986). Extending the earlier analysis of a representative firm, this paper shows that even if the condition for a continuum of equilibria is not exactly satisfied,...

The institutional settings in China, including the land allocation system and the household registration system, lead to a rural–urban labour migration pattern that differs from that in other countries. Individual peasants' labour is often split (typically over different times of the year)...