Fratini, Saverio M. - Dipartimento di Economia, Università degli Studi di Roma 3 - 2011
Malinvaud (2003) observed that once techniques are ranked according to Hick’s concept of average period for a given rate of interest, a rise in the latter entails the use of a technique with a shorter average period. After a reconstruction of Malinvaud’s argument, it is shown that the result...