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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)
Date: 2014-08
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Journal Article: A Note on Reswitching and Intertemporal Prices (2015) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ris:sraffa:0005

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