Browsing by Author "Sheshinski, Eytan"

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    Switching of Techniques and Consumption Per Head: An Economic Clarification
    (1970) Bruno, Michael; Burmeister, Edwin; Sheshinski, Eytan
    Using the notation of our original paper,' we summarize differ- ent techniques by (nXn) input matrices a, b, c, . . . and the cor- responding labor requirement vectors ao, bo, ... When one sets the wage w=1 as a normalization, the price vector Pa, associated with any technique a, is a function of the interest rate r:...
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    The Badly Behaved Production Function: Comment
    (1968) Bruno, Michael; Burmeister, Edwin; Sheshinski, Eytan
    In their recent article Joan Robinson and K. A. Naqvi provide an example which they think ". . . conclusively disproves the notion that the number of switches cannot be more than the number of capital goods in the system." 1 This assertion relates to a theorem recently proved by US.2 A glance at their own example shows, how- ever, that their conclusion is completely unwarranted...
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    The Nature and Implications of the Reswitching of Techniques
    (1966) Bruno, Michael; Burmeister, Edwin; Sheshinski, Eytan
    By reswitching of techniques we mean the recurrence at different rates of interest of a whole matrix of activities or a "technique of production." The "Ruth Cohen Curiosum" may be considered a special case where only a single activity recurs.' We have analyzed the conditions under which reswitching can occur, which are perfectly general, the conditions under which it cannot occur, which are quite restrictive, and some of the important im- plications for capital theory..