Increasing Returns, Economic Growth and Decentralization

(with Mukul Majumdar), in B. Dutta, S. Gangopadhyay, D. Mookherjee and D. Ray (eds), Economic Theory and Policy: Essays in Honor of Dipak Banerjee, Oxford University Press, 1990.

Summary. We discuss quantity controls that can be used for decentralization of competitive economies with non-convex production sets.