Intertemporal general equilibrium model with external increasing returns

Article Abstract:

The increasing returns concept of J.S. Chipman, which was applied by Romer to prove continuous optimal growth path, was used to prove the existence of competitive equilibrium with increasing external returns. A dynamic model which considers weighted commodity space, many consumers and a single production function indicates that competitive equilibrium with externalities is possible. The result contradicts Straffa, Knight and Harrod's contention that competitive equilibrium cannot exist with increasing returns.

Research, Externalities (Economics), Economies of scale, Value (Economics)

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Commission-revenue maximization in a general equilibrium model of asset creation

Article Abstract:

A research study developed a general equilibrium model of endogenous asset formation. The analysis covered the model's implications on prospective asset structures. The monopolistic agent may create any asset type and charge commissions only if the total number of asset types falls within the limits of a predetermined constant. A commission-revenue maximizer maintains its presence when the agent, known as a designer, can create a maximum of two assets.

Economic aspects, Revenue, Commissions (Compensation), Commissions (Fees)

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Statistical equilibrium in one-step forward looking economic models

Article Abstract:

A study investigated the relationship between statistical equilibrium analysis and the economic notion of expectational equilibrium for one-step forward looking economic models. The main implication of the analysis is the maximum entropy characterization of statistical expectational equilibrium. The presence of endogenously created random fluctuations should not be surprising to researchers if they do not rule out endogenous randomness by assumption.

Economics, Research and Development in the Social Sciences and Humanities, Econometrics & Model Building, Usage, Econometrics, Economic forecasting, Markov processes, Rational expectations (Economics), Business models

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