the aim of this work is to estimate the structural parameters of a simultaneous equation system using both the Limited and Full Information Least Orthogonal Distance Estimator (Pieraccini, 1988; Naccarato, 2007). We compare the results - via simulation experiments – of LODE estimates with those...

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...

One of the foundations of the labour theory of value used by Ricardo in the Principles is that rent does not enter into commodity prices. In response to objections raised by Malthus and Say, Ricardo defended this idea by arguing that even where all cultivated land pays rent, the last dose of...