I analyze two connections between neoclassical and classical economics. First, I consider the indeterminacy that arises for both schools: in the neoclassical theories of overlapping generations and of factor pricing and in Sraffa’s price theory. Neoclassical indeterminacy occurs only in environments where relative prices can change through time; otherwise, determinacy obtains. Although these re...

Double Refined IndeterminacyNeutrosophic Set (DRINS) is an inclusive case of the refined neutrosophic set, defined by Smarandache [1], which provides the additional possibility to represent with sensitivity and accuracy the uncertain, imprecise, incomplete, and inconsistent information which are available in real world. More precision is provided in handling indeterminacy; by classifying indete...

We consider a discrete-time two-sector CES economy with sector specific external effects and partial depreciation of capital. We show that the occurrence of local indeterminacy of equilibria depends on an interplay between factor substitutability and capital depreciation. When the elasticity of substitution is less than one, local indeterminacy may occur with low depreciation of capital. When t...

1. Referential indeterminacy (for instance, indeterminacy as to what a singular term stands for or what a general term has as its extension) is a widespread phenomenon. Ordinary vagueness is a special case of indeterminacy: for instance, it is indeterminate whether the word ‘rich’ has in its extension certain moderately rich people, and it is indeterminate precisely which atoms are parts of the...

The subject of factor indeterminacy has a vast history in factor analysis (Wilson, 1928; Lederman, 1938, Guttman, 1955). It has lead to strong differences in opinion (Steiger, 1979). The current paper gives necessary and sufficient conditions for observability of factors in terms of the parameter matrices and a finite number of variables. Five conditions are given which rigorously define indete...

In his paper “Does utility curvature matter for indeterminacy”, Kim (2005) analyzed the relationship among the utility function form, curvature and indeterminacy, concluding that the relationship between curvature and indeterminacy is not robust in neoclassical growth model and the indeterminacy may disappear under the utility specification as in Greenwood et.al (1998). The models he discussed ...

Triple Refined Indeterminate Neutrosophic Set (TRINS) which is a case of the refined neutrosophic set was introduced in [27]. It provides the additional possibility to represent with sensitivity and accuracy the uncertain, imprecise, incomplete, and inconsistent information which are available in real world. More precision is provided in handling indeterminacy; by classifying indeterminacy (I) ...