Temporal and thermodynamic irreversibility in production theory

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...

Ausführliche Beschreibung

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Bibliographische Detailangaben
Veröffentlicht in:Economic theory
1. Verfasser: Baumgärtner, Stefan (VerfasserIn)
Format: UnknownFormat
Sprache:eng
Veröffentlicht: 2005
Schlagworte:
Sustainability sciences, Management & Economics > irreversibility > production > thermodynamics > Economics > Aufsatz in Zeitschrift
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Beschreibung
Zusammenfassung: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.
Beschreibung:4 S
ISSN:0938-2259