Returns to the Length of Production

Du 5 décembre 2025 au 5 décembre 2025

De 12h30 à 13h30, en salle du Conseil (1er étage de la faculté de droit, économie et gestion).
Accessible en distanciel sur l'équipe Teams "Séminaires Granem" (réservé aux membres).

Ce séminaire est organisé par l'axe 3 Mutations stratégiques, risque et soutenabilité financière.

• Jared Friesen, doctorant en Sciences économiques, rattaché au Granem
  

"Returns to the Length of Production"

Résumé :

Eugen von Böhm-Bawerk argued in his book The Positive Theory of Capital that longer production processes are more physically productive because the additional time allows for more capital goods to be produced which enhances the productivity of the original factors of production. He and many sub-sequent economists assume that there are diminishing returns to the length of the production process because the law of diminishing marginal productivity applies to the capital stock. However, the law is misapplied to the length of production because the latter violates the assumption that the units of the factor of production are homogeneous. We argue that there is a resistance to diminishing returns in the nature of the length of production due to the division of labor and the exploitation of complementarity between heterogeneous capital goods, and that this resistance may even yield increasing returns as the number of stages of production increases.