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Energy-Dependent Production Functions and the Optimization Model “PRISE” of Price-Induced Sectoral Evolution

Year 2002, Volume: 5 Issue: 3, 101 - 107, 01.09.2002

Dietmar Lindenberger Reiner Kummel

Abstract

In an attempt to integrate thermodynamics with economics, production functions are proposed that depend on capital, labor, energy and technological parameters associated with the energy conversion efficiency of the capital stock. Based on these production functions, which resolve most of the unexplained Solow residual of conventional economic growth theory, we develop the optimization model PRISE of PRice-Induced Sectoral Evolution. The model is designed to analyze potential changes of inputs, outputs and profits in differently energy- and labor-intensive sectors of an economy in response to changing factor prices. The model has been tested by comparing its predictions with the German sectoral economic evolution, 1968-1989.

Keywords

energy conversion production functions factor prices economic evolution

Year 2002, Volume: 5 Issue: 3, 101 - 107, 01.09.2002

Dietmar Lindenberger Reiner Kummel

Abstract

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Details

Primary Language English
Journal Section Regular Original Research Article
Authors

Dietmar Lindenberger This is me

Reiner Kummel This is me

Publication Date September 1, 2002
Published in Issue Year 2002 Volume: 5 Issue: 3

Cite

APA Lindenberger, D., & Kummel, R. (2002). Energy-Dependent Production Functions and the Optimization Model “PRISE” of Price-Induced Sectoral Evolution. International Journal of Thermodynamics, 5(3), 101-107.
AMA Lindenberger D, Kummel R. Energy-Dependent Production Functions and the Optimization Model “PRISE” of Price-Induced Sectoral Evolution. International Journal of Thermodynamics. September 2002;5(3):101-107.
Chicago Lindenberger, Dietmar, and Reiner Kummel. “Energy-Dependent Production Functions and the Optimization Model ‘PRISE’ of Price-Induced Sectoral Evolution”. International Journal of Thermodynamics 5, no. 3 (September 2002): 101-7.
EndNote Lindenberger D, Kummel R (September 1, 2002) Energy-Dependent Production Functions and the Optimization Model “PRISE” of Price-Induced Sectoral Evolution. International Journal of Thermodynamics 5 3 101–107.
IEEE D. Lindenberger and R. Kummel, “Energy-Dependent Production Functions and the Optimization Model ‘PRISE’ of Price-Induced Sectoral Evolution”, International Journal of Thermodynamics, vol. 5, no. 3, pp. 101–107, 2002.
ISNAD Lindenberger, Dietmar - Kummel, Reiner. “Energy-Dependent Production Functions and the Optimization Model ‘PRISE’ of Price-Induced Sectoral Evolution”. International Journal of Thermodynamics 5/3 (September 2002), 101-107.
JAMA Lindenberger D, Kummel R. Energy-Dependent Production Functions and the Optimization Model “PRISE” of Price-Induced Sectoral Evolution. International Journal of Thermodynamics. 2002;5:101–107.
MLA Lindenberger, Dietmar and Reiner Kummel. “Energy-Dependent Production Functions and the Optimization Model ‘PRISE’ of Price-Induced Sectoral Evolution”. International Journal of Thermodynamics, vol. 5, no. 3, 2002, pp. 101-7.
Vancouver Lindenberger D, Kummel R. Energy-Dependent Production Functions and the Optimization Model “PRISE” of Price-Induced Sectoral Evolution. International Journal of Thermodynamics. 2002;5(3):101-7.