Temporal and thermodynamic irreversibility in production theory
Research output: Journal contributions › Journal articles › Research › peer-review
Authors
The two notions of temporal and thermodynamic irreversibility are distinguished. It is shown that the irreversibility concept of Arrow-Debreu, while establishing temporal irreversibility, does not encompass thermodynamic irreversibility. This means, the standard irreversibility concept of production theory is too weak to be in full accordance with the laws of nature.
| Original language | English |
|---|---|
| Journal | Economic Theory |
| Volume | 26 |
| Issue number | 3 |
| Pages (from-to) | 725-728 |
| Number of pages | 4 |
| ISSN | 0938-2259 |
| DOIs | |
| Publication status | Published - 01.10.2005 |
| Externally published | Yes |
- Economics and Econometrics
ASJC Scopus Subject Areas
- Sustainability sciences, Management & Economics
- Economics