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Competition and Increasing Returns



Type:   Article
Titre:   Competition and Increasing Returns
Auteur(s):   Amendola, Mario - Dipartimento di Scienze Sociali ed Economiche (Auteur)
Gaffard, Jean-Luc - Observatoire français des conjonctures économiques (Auteur)
In:   Journal of Economics and Statistics
Date de publication:   2014-04
Volume:   234
Numéro:   2-3
Pages:   257-273  p.
ISSN:   00214027
DOI:   10.1515/jbnst-2014-2-309
Mots-clés:   [en] Competition, Increasing returns, Time to build, Viability
JEL:   L11,  O31
Résumé:   [en] 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.

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