The proof of the existence of the Standard commodity contained in Sraffa's book (section 37) has been debated recently. Lippi (2008) has argued that the algorithm in section 37 of Sraffa’s book is not precisely stated and does not need to converge to the desired eigenvalue and eigenvector. In...

This article introduces an unknown predecessor of Leontief who, at the very beginning of the last century, invented the idea of an input-output table as the basis for finding an economic equilibrium. He gave examples of 'technical coefficients', formulated the idea of a computing office, and was...

This paper deals with a Markovian decision process with an absorbing set J 0 . We are interested in the largest number β *≥1, called the critical discount factor, such that for all discount factors β smaller than β * the limit V of the N-stage value function V N for N →∞ exists and is...

This paper deals with a Markovian decision process with an absorbing set J <Subscript>0</Subscript>. We are interested in the largest number β<Superscript>*</Superscript>≥1, called the critical discount factor, such that for all discount factors β smaller than β<Superscript>*</Superscript> the limit V of the N-stage value function V <Subscript>N</Subscript> for N →∞ exists and is...</subscript></superscript></superscript></subscript>