ECONOMY OF SPECIALIZATION AND DISECONOMY OF EXTERNALITIES

C. Y. Cyrus Chu and C. Wang
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C. Y. Cyrus Chu: National Taiwan University, R. O. C. and Academia Sinica, China
C. Wang: National Taiwan University, R. O. C.

Chapter 15 in Inframarginal Contributions to Development Economics, 2006, pp 391-406 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:IntroductionA Two-Person Two-Sector ModelSpecificationSpecialization and transactionThe non-convexity of the PPFPossible Equilibrium ScenariosScenario 1: AutarkyScenario 2: Division of labor without externality remedyScenario 3: Division of labor with externality remedyThe Impact of a Pigovian TaxExtensions and DiscussionOther related researchAn extreme example: The prohibition of alcohol in the USMore general institutional changesReferences

Keywords: Inframarginal; Transaction Costs; Division of Labor (search for similar items in EconPapers)
Date: 2006
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