Overhead labour and bounded substitutability
SummaryIn this paper we argue that due to the presence of quasi-fixed overhead labour, the aggregate short-run production function of the industry has the property of bounded substitutability. That is, when employing overhead labour, the industry will only be able to earn a positive quasi-rent for a bounded interval of aggregate labour intensity.
The distribution approach to the aggregation of putty-clay production functions
Abstract The point of departure of the distribution approach is the efficiency distribution of the production units in an industry. From this distribution the full-capacity production function and the short-run aggregate production function of the industry are derived. The long-run production function of the industry then is derived from the full-capacity function and the short-run production function. Hence, in the context of the distribution approach the relation is analysed between the short-run, full-capacity and long-run aggregate production functions of the industry and the efficiency distribution (and related capacity distribution) of the production units in that industry. Finally, the distribution approach is applied for the case of the Japanese cotton spinning industry.
A new genus and species of Thyasiridae (Mollusca, Bivalvia) from deep-water, Beaufort Sea, northern Alaska
Abstract Bivalve mollusk shells were collected in 2350 m depth in the Beaufort Sea, Arctic Ocean off northern Alaska. Initial identification suggested the specimens were a member of the bivalve family Thyasiridae, but no known eastern Pacific or Arctic living or fossil thyasirid resembled these deep-water specimens. Comparisons were made with the type of the genera Maorithyas Fleming, 1950, Spinaxinus Oliver & Holmes, 2006, Axinus Sowerby, 1821, and Parathyasira Iredale, 1930. We determined the Beaufort Sea species represents a new genus, herein described as Wallerconcha. These specimens also represent a new species, herein named Wallerconcha sarae. These new taxa are compared with known modern and fossil genera and species of thyasirds.