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Normal Forms for Switch Point Patterns

Author

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  • Vienneau, Robert L.

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 costminimizing 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.

Suggested Citation

  • Vienneau, Robert L., 2018. "Normal Forms for Switch Point Patterns," Review of Behavioral Economics, now publishers, vol. 5(2), pages 169-195, September.
    • Handle: RePEc:now:jnlrbe:105.00000080
    DOI: 10.1561/105.00000080
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    Cited by:

    1. Vienneau, Robert L., 2019. "Structural economic dynamics, markups, real Wicksell effects, and the reverse substitution of labor," Structural Change and Economic Dynamics, Elsevier, vol. 50(C), pages 216-226.
    2. Vienneau, Robert L., 2021. "Fluke Switch Points in Pure Fixed Capital Systems," Centro Sraffa Working Papers CSWP48, Centro di Ricerche e Documentazione "Piero Sraffa".

    More about this item

    Keywords

    Choice of technique; Reswitching; Capital-reversing; Cambridge capital controversy;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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