Heterodox
Summary:
Recurrence Of Techniques Without Switch Points I have built on my previous post in a writeup: Abstract: In certain models of commodities produced by means of commodities, the choice of technique is analyzed by the construction of the wage frontier. This article presents a numeric example of a continuum of wage curves tangent at a switch point. Technological progress leads to the recurrence of techniques. No switch points then exist, but the cost-minimizing technique varies continuously along the wage frontier. Further progress leads to the disappearance of the recurrence of techniques and, eventually, a single technique becoming cost-minimizing for all feasible rates of profits.
Topics:
Robert Vienneau considers the following as important: Example in Mathematical Economics, Sraffa Effects
This could be interesting, too:
Recurrence Of Techniques Without Switch Points I have built on my previous post in a writeup: Abstract: In certain models of commodities produced by means of commodities, the choice of technique is analyzed by the construction of the wage frontier. This article presents a numeric example of a continuum of wage curves tangent at a switch point. Technological progress leads to the recurrence of techniques. No switch points then exist, but the cost-minimizing technique varies continuously along the wage frontier. Further progress leads to the disappearance of the recurrence of techniques and, eventually, a single technique becoming cost-minimizing for all feasible rates of profits.
Topics:
Robert Vienneau considers the following as important: Example in Mathematical Economics, Sraffa Effects
This could be interesting, too:
Robert Vienneau writes A Perverse Switch Point For Neoclassical Economics, Non-Perverse For Austrians
Robert Vienneau writes The Fundamental Sraffian Theorem
Robert Vienneau writes Perverse Switch Point For Austrian Economics
Robert Vienneau writes Traditional And ‘Perverse’ Switch Points For Austrian And Neoclassical Economics
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| Recurrence Of Techniques Without Switch Points |
I have built on my previous post in a writeup:
Abstract: In certain models of commodities produced by means of commodities, the choice of technique is analyzed by the construction of the wage frontier. This article presents a numeric example of a continuum of wage curves tangent at a switch point. Technological progress leads to the recurrence of techniques. No switch points then exist, but the cost-minimizing technique varies continuously along the wage frontier. Further progress leads to the disappearance of the recurrence of techniques and, eventually, a single technique becoming cost-minimizing for all feasible rates of profits.