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Fluke Switch Points in Pure Fixed Capital Systems

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  • Vienneau, Robert L.

    (Independent Researcher)

Abstract

This article considers structural economic dynamics, in models with fixed capital and a choice of technique, of the production of commodities. Fluke switch points are de-scribed and catalogued. For fluke switch points, parameter perturbations create a quali-tative change in how the choice of technique varies with distribution. Techniques are presented for visualizing partitions of parameter spaces such that the analysis of the choice of technique does not vary within each region. Implications are drawn about the choice of the truncation of the operation of (or the economic life of) machines and about the adoption of roundabout techniques.

Suggested Citation

  • Vienneau, Robert L., 2021. "Fluke Switch Points in Pure Fixed Capital Systems," Centro Sraffa Working Papers CSWP48, Centro di Ricerche e Documentazione "Piero Sraffa".
    • Handle: RePEc:ris:sraffa:0048
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    References listed on IDEAS

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    1. Avi J. Cohen, 2003. "Retrospectives: Whatever Happened to the Cambridge Capital Theory Controversies?," Journal of Economic Perspectives, American Economic Association, vol. 17(1), pages 199-214, Winter.
    2. Vienneau, Robert L., 2018. "Normal Forms for Switch Point Patterns," Review of Behavioral Economics, now publishers, vol. 5(2), pages 169-195, September.
    3. Bidard, Christian, 1997. "Pure Joint Production," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 21(6), pages 685-701, November.
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    5. Christian Bidard, 2004. "Prices, Reproduction, Scarcity," Post-Print hal-03094334, HAL.
    6. 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.
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    8. Paul A. Samuelson, 1966. "A Summing Up," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 80(4), pages 568-583.
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    13. Biao Huang, 2019. "Revisiting fixed capital models in the Sraffa framework," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 36(2), pages 351-371, July.
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    15. Bertram Schefold, 1980. "Fixed Capital as a Joint Product and the Analysis of Accumulation with Different Forms of Technical Progress," Palgrave Macmillan Books, in: Luigi L. Pasinetti (ed.), Essays on the Theory of Joint Production, chapter 0, pages 138-217, Palgrave Macmillan.
    16. Christian Bidard & Edith Klimovsky, 2004. "Switches and fake switches in methods of production," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 28(1), pages 89-97, January.
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    Cited by:

    1. Robert L. Vienneau, 2022. "Reswitching in a Model of Extensive Rent," Bulletin of Political Economy, Bulletin of Political Economy, vol. 16(2), pages 133-146, December.

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    More about this item

    Keywords

    Fixed capital; Choice of technique; Cambridge Capital Controversy; Structural dynamics.;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • 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
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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