Re: [OPE-L] models with unequal turnover periods

From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Thu Sep 06 2007 - 18:33:29 EDT

The standard way is to use a stock matrix as well as flow matrix, if you have
that you can ignore turnover period since the information in it is encoded
in the combination of the two matrices.

Paul Cockshott

-----Original Message-----
From: OPE-L on behalf of glevy@PRATT.EDU
Sent: Thu 9/6/2007 4:48 PM
Subject: Re: [OPE-L] models with unequal turnover periods
> Still playing on my one string violin, what about cases when the turnover
> period for constant capital is unknown?

Hi Michael P:

Then you include it as a variable with an unknown magnitude in the model.
There are different ways in which this could be done: e.g. one could make
certain assumptions that could give you a _range_ for the variable.  This
would, of course, introduce uncertainty into the model and mean that it
wouldn't yield a single result.  Yet, this is uncertainty which is a
consequence of the essential nature of the subject matter: i.e. it is
_real_ uncertainty and shouldn't be eliminated for purposes of
mathematical convenience.

In solidarity, Jerry

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