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 Feb |
ASJC Scopus subject areas
- Economics and Econometrics