Temporal and thermodynamic irreversibility in production theory
Research output: Journal contributions › Journal articles › Research › peer-review
Standard
In: Economic Theory, Vol. 26, No. 3, 01.10.2005, p. 725-728.
Research output: Journal contributions › Journal articles › Research › peer-review
Harvard
APA
Vancouver
Bibtex
}
RIS
TY - JOUR
T1 - Temporal and thermodynamic irreversibility in production theory
AU - Baumgärtner, Stefan
PY - 2005/10/1
Y1 - 2005/10/1
N2 - 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.
AB - 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.
KW - Sustainability sciences, Management & Economics
KW - irreversibility
KW - production
KW - thermodynamics
KW - Economics
KW - irreversibility
KW - production
KW - thermodynamics
UR - http://www.scopus.com/inward/record.url?scp=22044458295&partnerID=8YFLogxK
UR - https://www.mendeley.com/catalogue/18a980bc-7dc6-3901-8063-6ab7496d9663/
U2 - 10.1007/s00199-004-0525-1
DO - 10.1007/s00199-004-0525-1
M3 - Journal articles
VL - 26
SP - 725
EP - 728
JO - Economic Theory
JF - Economic Theory
SN - 0938-2259
IS - 3
ER -