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The Period of Production in a Von Neumann World

  • Martin J. Beckmann

Abstract

Consider investment projects characterized by fixed commodity streams and variable termination points. The levels of staggered investment projects and relative prices are determined so as to maximize the social rate of return with respect to project levels and minimize with respect to prices. The resulting von Neumann model is analyzed from the point of view of the Austrian theory of capital.

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References

  1. [1]
    M. J. Beckmann: Capital and Interest in a One-Commodity World With Unlimited Labor, The Economic Studies Quarterly 17 (1966), pp. 33–44.Google Scholar
  2. [2]
    D. Gale: The Theory of Linear Economic Models, New York, McGraw Hill 1960.Google Scholar
  3. [3]
    J. R. Hicks: Value and Capital, Oxford University Press, Dec. 1939.Google Scholar
  4. [4]
    J. von Neumann: Über ein ökonomisches Gleichungssystem und eine Verallgemeinerung des Brouwerschen Fixpunktsatzes, Ergebnisse eines mathematischen Kolloquiums 8 (1937), pp. 73–83.Google Scholar

Copyright information

© Springer-Verlag Wien 1971

Authors and Affiliations

  • Martin J. Beckmann
    • 1
    • 2
  1. 1.MunichDeutschland
  2. 2.LochhamDeutschland

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