Abstract
One of the most interesting results in value theory is that positive profits are consistent with negative surplus value. This result is obtained, using a two‐commodity linear model with joint production. Since existence of an inferior process is always implied in a two‐commodity model, the result has been supposed to be applicable to a limited type of technology. The purpose of this paper is to show that positive profits with negative surplus value do not necessarily imply the existence of such a process in higher dimensions. Although a different type of inferiority is implied, such a definition of inferiority is quite different from what is normally understood.
| Original language | English |
|---|---|
| Pages (from-to) | 29-42 |
| Number of pages | 14 |
| Journal | Metroeconomica |
| Volume | 44 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 1993 |
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ASJC Scopus subject areas
- Economics and Econometrics
Cite this
NEGATIVE SURPLUS VALUE AND INFERIOR PROCESSES. / Hosoda, Eiji.
In: Metroeconomica, Vol. 44, No. 1, 1993, p. 29-42.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - NEGATIVE SURPLUS VALUE AND INFERIOR PROCESSES
AU - Hosoda, Eiji
PY - 1993
Y1 - 1993
N2 - One of the most interesting results in value theory is that positive profits are consistent with negative surplus value. This result is obtained, using a two‐commodity linear model with joint production. Since existence of an inferior process is always implied in a two‐commodity model, the result has been supposed to be applicable to a limited type of technology. The purpose of this paper is to show that positive profits with negative surplus value do not necessarily imply the existence of such a process in higher dimensions. Although a different type of inferiority is implied, such a definition of inferiority is quite different from what is normally understood.
AB - One of the most interesting results in value theory is that positive profits are consistent with negative surplus value. This result is obtained, using a two‐commodity linear model with joint production. Since existence of an inferior process is always implied in a two‐commodity model, the result has been supposed to be applicable to a limited type of technology. The purpose of this paper is to show that positive profits with negative surplus value do not necessarily imply the existence of such a process in higher dimensions. Although a different type of inferiority is implied, such a definition of inferiority is quite different from what is normally understood.
UR - http://www.scopus.com/inward/record.url?scp=5844377482&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=5844377482&partnerID=8YFLogxK
U2 - 10.1111/j.1467-999X.1993.tb00787.x
DO - 10.1111/j.1467-999X.1993.tb00787.x
M3 - Article
AN - SCOPUS:5844377482
VL - 44
SP - 29
EP - 42
JO - Metroeconomica
JF - Metroeconomica
SN - 0026-1386
IS - 1
ER -