-Douglas production, the congestion technology can be shown to be crucial for the analysis of efficiency in the decentralized equilibrium …. Assuming decreasing marginal congestion, efficiency in the non-cooperative equilibrium is determined alone by the production … and congestion elasticities. In contrast, factor prices such as the level of the wage rigidity and corresponding …

Congestion is an economic phenomenon of overinvestment that occurs when excessive inputs decrease the maximally … possible outputs. Although decision-makers are unlikely to decrease outputs by increasing inputs, congestion is widespread in … reality. Identifying and measuring congestion can help decision-makers detect the problem of overinvestment. This paper …