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On the Uniqueness of Square Cost-Minimizing Techniques

Guido Erreygers ()

The Manchester School of Economic & Social Studies, 1995, vol. 63, issue 2, 145-66

Abstract: The framework adopted in the paper is that of the Sraffian theory of the choice of techniques. Under the assumption that demand is price-independent, the uniqueness of cost-minimizing techniques is analyzed in terms of relations between square neighboring techniques. It is shown that, for certain types of economies, uniqueness is guaranteed if and only if all cost-minimizing techniques have the same 'color.' The color of a technique depends upon the rates of profits and growth, and the characteristics of the processes that constitute a technique. The result is extended to economies using natural resources. Copyright 1995 by Blackwell Publishers Ltd and The Victoria University of Manchester

Date: 1995
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Working Paper: On the uniqueness of square cost-minimizing techniques (1992) Downloads
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Handle: RePEc:bla:manch2:v:63:y:1995:i:2:p:145-66