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Comment

In: Value and Capital: Fifty Years Later

Author

Listed:
  • Lionel McKenzie

    (University Of Rochester)

Abstract

In this chapter Atsumi has undertaken a thorough investigation of the problem of the internal rate of return of an investment process and its relation to the equilibrium rate of interest in a competitive market. His market extends through the indefinite future. The rate of interest remains constant over time. This means that the price of the commodity in which investment and return are expressed has a constant ratio between any two successive periods, that is, p t+1 /p t = (β−1, where P is the interest factor, or ϱ = β − 1 is the rate of interest, and β−1 is the discount factor.

Suggested Citation

  • Lionel McKenzie, 1991. "Comment," International Economic Association Series, in: Lionel W. McKenzie & Stefano Zamagni (ed.), Value and Capital: Fifty Years Later, pages 410-420, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-11029-2_25
    DOI: 10.1007/978-1-349-11029-2_25
    as

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