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 Third Double-Fluke Case For A Triple-Switching Example
Robert Vienneau writes A Second Double-Fluke Switch Point For A Triple-Switching Example
Robert Vienneau writes A Double-Fluke Switch Point For A Triple-Switching Example
Robert Vienneau writes A 1D Diagram For A Triple-Switching Example
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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.