Centro Sraffa announces that the Centro Sraffa Working Paper (CSWP) n. 5, A Note on Reswitching and Intertemporal Prices, by Saverio M. Fratini, is now online and available for public access at the following link
Bliss (1975) claims that reswitching is nothing but an ‘optical illusion’ due to the exclusion of non‐stationary price sequences from the analysis. The present paper is aimed at developing this point. The standard case for choice of techniques and reswitching is reformulated in terms of Arrow‐Debreu intertemporal prices and the conditions making these prices stationary are highlighted separately. It is then shown that the analysis of the choice of techniques in terms of ‘switch points’ requires the stationary conditions.
The Centro Sraffa Working Papers (CSWP) are aimed at promoting and disseminating economic research based on the revival and development of the classical approach to value and distribution along the lines developed by Piero Sraffa.
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sharing this perspective are welcome in all fields of economic theory,
history of economic thought, policy analysis, economic history and
methodological debate.
For full Statement and Author Guidelines please go to Centro Sraffa Working Papers
For full Statement and Author Guidelines please go to Centro Sraffa Working Papers
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