The Fund‐Flow Approach: A Critical Survey

@article{Marzetti2013TheFA,
  title={The Fund‐Flow Approach: A Critical Survey},
  author={Giuseppe Vittucci Marzetti},
  journal={ERN: Other Econometrics: Econometric \& Statistical Methods (Topic)},
  year={2013}
}
  • G. V. Marzetti
  • Published 2013
  • Economics
  • ERN: Other Econometrics: Econometric & Statistical Methods (Topic)
The fund-flow approach to production theory was first proposed by Nicholas Georgescu-Roegen almost half a century ago. Since then, from time to time it has received attention, but, probably because of its analytical complexity and difficulty to deliver sound "operational conclusions", it is now almost abandoned. The approach has been also recently criticized for its instrumental assumption of constant efficiency of funds, by emphasizing its limitations in addressing issues related to fixed… Expand
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