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 theory is too weak to be in full accordance with the laws of nature. Copyright Springer-Verlag Berlin/Heidelberg 2005
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Volume (Year): 26 (2005)
Issue (Month): 3 (October)
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