Heterodox
Summary:
I have put up a working paper, with the post title, on my Social Sciences Research Network (SSRN) site. Abstract: The choice of technique can be analyzed, in a circulating capital model of prices of production, by constructing the wage frontier. Switch points arise when more than one technique is cost-minimizing for a specified rate of profits. This article defines four normal forms for structural bifurcations, in which the number and sequence of switch points varies with a variation in one model parameter, such as a coefficient of production. The 'perversity' of switch points that appear on and disappear from the wage frontier is analyzed. The conjecture is made that no other normal forms exist of codimension one.
Topics:
Robert Vienneau considers the following as important: Example in Mathematical Economics, Sraffa Effects
This could be interesting, too:
I have put up a working paper, with the post title, on my Social Sciences Research Network (SSRN) site. Abstract: The choice of technique can be analyzed, in a circulating capital model of prices of production, by constructing the wage frontier. Switch points arise when more than one technique is cost-minimizing for a specified rate of profits. This article defines four normal forms for structural bifurcations, in which the number and sequence of switch points varies with a variation in one model parameter, such as a coefficient of production. The 'perversity' of switch points that appear on and disappear from the wage frontier is analyzed. The conjecture is made that no other normal forms exist of codimension one.
Topics:
Robert Vienneau considers the following as important: Example in Mathematical Economics, Sraffa Effects
This could be interesting, too:
Robert Vienneau writes The Emergence of Triple Switching and the Rarity of Reswitching Explained
Robert Vienneau writes Recap For A Triple -Switching Example
Robert Vienneau writes A Sixth Double-Fluke Switch Point For A Triple-Switching Example
Robert Vienneau writes A Third Double-Fluke Case For A Triple-Switching Example
I have put up a working paper, with the post title, on my Social Sciences Research Network (SSRN) site.
Abstract: The choice of technique can be analyzed, in a circulating capital model of prices of production, by constructing the wage frontier. Switch points arise when more than one technique is cost-minimizing for a specified rate of profits. This article defines four normal forms for structural bifurcations, in which the number and sequence of switch points varies with a variation in one model parameter, such as a coefficient of production. The 'perversity' of switch points that appear on and disappear from the wage frontier is analyzed. The conjecture is made that no other normal forms exist of codimension one.