IN THIS lecture I would like to discuss some aspects of an old and broad question: in what
ways can competition promote economic efficiency? As far as resource allocation is …

Productivity gains form the basis of improvements in real incomes and welfare. Slow
productivity growth limits the rate at which real incomes can improve, and also increases the …

THE PROBLEMS of welfare economics can be broadly arranged in two groups: the first
group is concerned with the most efficient allocation of resources in production, the second …

There are signs of increasing awareness among economists that what they have been
discussing in recent years under the name of 'competition'is not the same thing as what is …

THIS book is the result of thought and writing that span a period of about twelve years, and
that have undergone a good many transformations. The individual ideas in it, generally …

The title refers to a distinction between the new welfare economics,(now not so new) and a
newer welfare economics. The objectives of the new welfare economics were to provide …

I.-The proof of the existence of an equilibrium for a competitive economy is given by Arrow
and Debreu [I] and many others such as Gale [4], Kuhn [6], McKenzie [8],[g], and Nikaido [IO] …

There is a widespread belief that increasing competition will increase welfare. In general, of
course, policies aimed at increasing competition will make some individuals better off and …

This note raises a new difficultyconcerning the possibility of satisfying equity and Pareto
efficiency objectives simultaneously. When interpersonal comparisons of utility are ruled out …

A vast and often confusing economics literature relates competition to investment in
innovation. Following Joseph Schumpeter, one view is that monopoly and large scale …