A Note on Reswitching and Intertemporal Prices

Saverio Fratini

No CSWP5, Centro Sraffa Working Papers from Centro di Ricerche e Documentazione "Piero Sraffa"

Abstract: 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.

Keywords: reswitching; stationary prices; intertemporal prices; convex sets (search for similar items in EconPapers)
JEL-codes: B51 D21 D46 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2014-08
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.centrosraffa.org/public/d14fd4ad-a69c-49b5-bc33-1bf7e66cc65e.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:sraffa:0005

Access Statistics for this paper

More papers in Centro Sraffa Working Papers from Centro di Ricerche e Documentazione "Piero Sraffa" Contact information at EDIRC.
Bibliographic data for series maintained by Saverio M. Fratini ().