Heterodox
My article with the post title is now available on the website for the Review of Political Economy. It will be, I gather, in the October 2017 hardcopy issue. The abstract follows. Abstract: This article clarifies the relations between internal rates of return (IRR), net present value (NPV), and the analysis of the choice of technique in models of production analyzed during the Cambridge capital controversy. Multiple and possibly complex roots of polynomial equations defining the IRR are considered. An algorithm, using these multiple roots to calculate the NPV, justifies the traditional analysis of reswitching.
Topics:
Robert Vienneau considers the following as important: Example in Mathematical Economics, Multiple Interest Rates, Sraffa Effects
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My article with the post title is now available on the website for the Review of Political Economy. It will be, I gather, in the October 2017 hardcopy issue. The abstract follows.
Abstract: This article clarifies the relations between internal rates of return (IRR), net present value (NPV), and the analysis of the choice of technique in models of production analyzed during the Cambridge capital controversy. Multiple and possibly complex roots of polynomial equations defining the IRR are considered. An algorithm, using these multiple roots to calculate the NPV, justifies the traditional analysis of reswitching.