IDEAS home Printed from https://ideas.repec.org/a/lde/journl/y2025i103p77-106.html
   My bibliography  Save this article

Cálculo de la función de producción mediante entropía: un modelo desde la econofísica

Author

Listed:
  • Isabel Cristina Betancur

    (Universidad de Medellín)

  • Efraín Arango-Sánchez

    (Universidad de Medellín)

  • Álvaro Hernán Bedoya-Calle

    (Universidad de Medellín)

  • Francisco J. Caro- Lopera

    (Universidad de Medellin)

  • Éver Alberto Velásquez Sierra

    (Universidad de Medellín)

Abstract

Desde una perspectiva económica, los problemas asociados con la producción requieren un modelo para estimarla. La forma más habitual de hacer estas estimaciones ha sido tradicionalmente a través de la función de producción Cobb-Douglas, que proviene del ajuste por mínimos cuadrados. Sin embargo, varios autores han propuesto formas alternativas de calcular la producción basándose en la relación entre los problemas económicos y los problemas termodinámicos. Nuestro artículo muestra una forma de calcular la función de producción a través de la entropía, la cual considera explícitamente las contribuciones del trabajo y el capital en la entropía de la función de producción. De esta manera, aplicamos el modelo a los datos presentados en el estudio de Cobb-Douglas sobre la producción del sector manufacturero en Estados Unidos. Los resultados describen los datos de producción en un grado adecuado. Además, indican la necesidad de estimar la constante de Boltzmann en el modelo económico y presentan una propuesta para obtener su valor.

Suggested Citation

  • Isabel Cristina Betancur & Efraín Arango-Sánchez & Álvaro Hernán Bedoya-Calle & Francisco J. Caro- Lopera & Éver Alberto Velásquez Sierra, 2025. "Cálculo de la función de producción mediante entropía: un modelo desde la econofísica," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 103, pages 77-106, January.
  • Handle: RePEc:lde:journl:y:2025:i:103:p:77-106
    DOI: 10.17533/udea.le.n103a356738
    as

    Download full text from publisher

    File URL: http://revistas.udea.edu.co/index.php/lecturasdeeconomia/article/download/356738/20819036
    Download Restriction: no

    File URL: https://libkey.io/10.17533/udea.le.n103a356738?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. David Backus & Mikhail Chernov & Stanley Zin, 2014. "Sources of Entropy in Representative Agent Models," Journal of Finance, American Finance Association, vol. 69(1), pages 51-99, February.
    2. Ali E. Abbas, 2006. "Maximum Entropy Utility," Operations Research, INFORMS, vol. 54(2), pages 277-290, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hansen, Lars Peter, 2013. "Uncertainty Outside and Inside Economic Models," Nobel Prize in Economics documents 2013-7, Nobel Prize Committee.
    2. Borovička, Jaroslav & Hansen, Lars Peter, 2014. "Examining macroeconomic models through the lens of asset pricing," Journal of Econometrics, Elsevier, vol. 183(1), pages 67-90.
    3. Sang Byung Seo & Jessica A. Wachter, 2019. "Option Prices in a Model with Stochastic Disaster Risk," Management Science, INFORMS, vol. 65(8), pages 3449-3469, August.
    4. Jaroslav Borovička & Lars Peter Hansen & José A. Scheinkman, 2016. "Misspecified Recovery," Journal of Finance, American Finance Association, vol. 71(6), pages 2493-2544, December.
    5. Fousseni Chabi-Yo & Riccardo Colacito, 2019. "The Term Structures of Coentropy in International Financial Markets," Management Science, INFORMS, vol. 65(8), pages 3541-3558, August.
    6. Chernov, Mikhail & Graveline, Jeremy & Zviadadze, Irina, 2018. "Crash Risk in Currency Returns," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 53(1), pages 137-170, February.
    7. Irina Zviadadze, 2017. "Term Structure of Consumption Risk Premia in the Cross Section of Currency Returns," Journal of Finance, American Finance Association, vol. 72(4), pages 1529-1566, August.
    8. Lei Jiang & Esfandiar Maasoumi & Jiening Pan & Ke Wu, 2018. "A test of general asymmetric dependence," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 33(7), pages 1026-1043, November.
    9. Qin, Guyue & Shang, Pengjian, 2021. "Analysis of time series using a new entropy plane based on past entropy," Chaos, Solitons & Fractals, Elsevier, vol. 152(C).
    10. Anisha Ghosh & Christian Julliard & Alex P. Taylor, 2017. "What Is the Consumption-CAPM Missing? An Information-Theoretic Framework for the Analysis of Asset Pricing Models," The Review of Financial Studies, Society for Financial Studies, vol. 30(2), pages 442-504.
    11. Indrajit Mitra & Yu Xu, 2020. "Limited Household Risk Sharing: General Equilibrium Implications for the Term Structure of Interest Rates," FRB Atlanta Working Paper 2020-20, Federal Reserve Bank of Atlanta.
    12. Backus, David & Ferriere, Axelle & Zin, Stanley, 2015. "Risk and ambiguity in models of business cycles," Journal of Monetary Economics, Elsevier, vol. 69(C), pages 42-63.
    13. Hanno Lustig & Andreas Stathopoulos & Adrien Verdelhan, 2013. "The Term Structure of Currency Carry Trade Risk Premia," NBER Working Papers 19623, National Bureau of Economic Research, Inc.
    14. Robert J. Kurtzman & David Zeke, 2016. "Accounting for Productivity Dispersion over the Business Cycle," Finance and Economics Discussion Series 2016-045, Board of Governors of the Federal Reserve System (U.S.).
    15. Zhanyu Chen & Kai Zhang & Hongbiao Zhao, 2022. "A Skellam market model for loan prime rate options," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 42(3), pages 525-551, March.
    16. Payandeh Najafabadi, Amir T. & Hatami, Hamid & Omidi Najafabadi, Maryam, 2012. "A maximum-entropy approach to the linear credibility formula," Insurance: Mathematics and Economics, Elsevier, vol. 51(1), pages 216-221.
    17. Sean M. Murphy & Dan L. Friesner & Robert Rosenman, 2012. "Patients' perceptions and treatment effectiveness: a reassessment using generalized maximum entropy," Applied Economics Letters, Taylor & Francis Journals, vol. 19(13), pages 1243-1248, September.
    18. Nikolay Gospodinov & Esfandiar Maasoumi, 2017. "General Aggregation of Misspecified Asset Pricing Models," FRB Atlanta Working Paper 2017-10, Federal Reserve Bank of Atlanta.
    19. Backus, David & Boyarchenko, Nina & Chernov, Mikhail, 2018. "Term structures of asset prices and returns," Journal of Financial Economics, Elsevier, vol. 129(1), pages 1-23.
    20. Almeida, Caio & Ardison, Kym & Garcia, René, 2020. "Nonparametric assessment of hedge fund performance," Journal of Econometrics, Elsevier, vol. 214(2), pages 349-378.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:lde:journl:y:2025:i:103:p:77-106. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Carlos Andrés Vasco Correa (email available below). General contact details of provider: https://edirc.repec.org/data/deantco.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.