Heterodox
Summary:
My article with the post title is now available at the Review of Behavioral Economics. The abstract follows: 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 variations in the number and sequence of switch points with a perturbation of, for example, 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 for local patterns of co-dimension one exist.
Topics:
Robert Vienneau considers the following as important: Publications from Me
This could be interesting, too:
My article with the post title is now available at the Review of Behavioral Economics. The abstract follows: 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 variations in the number and sequence of switch points with a perturbation of, for example, 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 for local patterns of co-dimension one exist.
Topics:
Robert Vienneau considers the following as important: Publications from Me
This could be interesting, too:
Robert Vienneau writes Reswitching in a Model of Extensive Rent
Robert Vienneau writes Characteristics of Labor Markets Varying with Pertubations of Relative Markups
Robert Vienneau writes Fluke Switch Points in Pure Fixed Capital Systems
Robert Vienneau writes Structural Economic Dynamics, Markups, Real Wicksell Effects, And The Reverse Substitution Of Labor
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My article with the post title is now available at the Review of Behavioral Economics. The abstract follows:
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 variations in the number and sequence of switch points with a perturbation of, for example, 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 for local patterns of co-dimension one exist.