The dynamic implications of increasing returns: technological change and path dependent inefficiency

Article Abstract:

Empirical demonstrations of path dependent inefficiency with respect to technological change reveals that localized learning results in incomplete variety distribution of new technology and that potential regret results found in historical studies suggest a large welfare loss. Future research should be directed along this path as results are mainly suggestive and moderately substantial.

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Margins, concentration, unions and the business cycle: theory and evidence for Britain

Article Abstract:

An analysis of the cyclical relationships among price-cost margins, concentration and labor unions is presented. US data on the topic conclude that margins are reduced by unions, cyclical variations shape these margins while an interaction among concentration, unionisation and cycles affect margins. UK panel data based on theoretical predictions show similar trends with the US data.

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A bargaining model of Farrell inefficiency

Article Abstract:

Theoretical expressions for empirical measures of technical and allocative efficiency, with regard to the distance of firms following the model of Farrell, are examined.

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