We construct a competitive model of innovation and growth under constant returns to scale. Previous models of growth under constant cannot model technological innovation. Current models of endogenous innovation rely on the interplay between increasing returns and monopolistic markets. In fact, established wisdom claims monopoly power to be instrumental for innovation and sees the non-rivalrous ...

In DEA (Data Envelopment Analysis), the Full Dimensional Efficient Facets (FDEFs) of PPS (Production Possibility Set) play a significant role and have many useful applications. In this research, we, first, provide a detailed characterization of the structure of FDEFs of the PPS with constant returns to scale technology, using basic concepts of the polyhedral sets theory. Then, using the mention...

In order to evaluate the performance of socially responsible investment (SRI) funds, we propose some models which use data envelopment analysis and can be computed in all phases of the business cycle. These models focus on the most crucial elements of an investment in mutual funds. In the literature both constant and variable returns to scale DEA models have been used to evaluate the performanc...

This paper argues that the conventional definition of the elasticity of complementarity is not well suited to deal with the case of increasing returns. It proposes a slightly different formula, that uses a distance function formulation instead of a production function. The proposed definition coincides with the Hicksian measure in case the production function displays constant returns. It is mo...

this research identifies returns to scale (rts) of efficient decision making units (dmus) with desirable (good) and undesirable (bad) inputs and outputs by presenting a new dea (data envelopment analysis) approach. in this study, we first introduce a new input-output oriented model to determine efficient dmus in the presence of undesirable factors and then, returns to scale of these dmus are es...