Calculation of the Production Function through Entropy: A Model from Econophysics;
| dc.contributor.affiliation | Universidad de Medellín, Faculty of Economic Sciences, Medellín, Colombia | |
| dc.contributor.affiliation | Universidad Autónoma Latinoamericana, Faculty of Economic Sciences, Medellín, Colombia | |
| dc.contributor.affiliation | Universidad de Medellín, Faculty of Basic Sciences, Medellín, Colombia | |
| dc.contributor.author | Betancur Hinestroza I.C. | |
| dc.contributor.author | Arango-Sánchez E. | |
| dc.contributor.author | Bedoya Calle Á.H. | |
| dc.contributor.author | Caro Lopera F.J. | |
| dc.contributor.author | Velásquez Sierra É.A. | |
| dc.date.accessioned | 2025-12-03T19:34:47Z | |
| dc.date.available | 2025-12-03T19:34:47Z | |
| dc.date.issued | 2025 | |
| dc.description | From an economic perspective, the problems associated with production require a model for its estimation. These estimations are typically made using the Cobb-Douglas production function, which is derived from least-squares adjustment. However, several authors have proposed alternative methods for calculating production based on the relationship between economic and thermodynamic problems. Our study provides a method for calculating the production function through entropy, which explicitly considers the contributions of labor and capital. In this way, we apply the model to the data presented in the Cobb-Douglas study on the production of the manufacturing sector in the United States. Our results accurately describe the production data, highlight the need to estimate the Boltzmann constant in the economic model, and provide a method for determining its value. © 2025 Universidad de Antioquia. All rights reserved. | |
| dc.identifier.doi | 10.17533/udea.le.n103a356738 | |
| dc.identifier.instname | instname:Universidad de Medellín | spa |
| dc.identifier.issn | 1202596 | |
| dc.identifier.reponame | reponame:Repositorio Institucional Universidad de Medellín | spa |
| dc.identifier.repourl | repourl:https://repository.udem.edu.co/ | |
| dc.identifier.uri | http://hdl.handle.net/11407/9252 | |
| dc.language.iso | eng | |
| dc.publisher.faculty | Instituto de Ciencias Básicas-Facultad de Ciencias Económicas y Administrativas | spa |
| dc.relation.citationendpage | 106 | |
| dc.relation.citationstartpage | 77 | |
| dc.relation.citationvolume | 103 | |
| dc.relation.isversionof | https://www.scopus.com/inward/record.uri?eid=2-s2.0-105013480291&doi=10.17533%2fudea.le.n103a356738&partnerID=40&md5=b83570bf701bbb80dcefe90c34852323 | |
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| dc.rights.acceso | Restricted access | |
| dc.rights.accessrights | info:eu-repo/semantics/restrictedAccess | |
| dc.source | Lecturas de Economia | |
| dc.source | Lect. Econ. | |
| dc.source | Scopus | |
| dc.subject | Cobb-Douglas function | |
| dc.subject | Economic Entropy | |
| dc.subject | Econophysics | |
| dc.subject | Microeconomics | |
| dc.subject | production | |
| dc.title | Calculation of the Production Function through Entropy: A Model from Econophysics; | |
| dc.title | Calcul de la fonction de production à l’aide de l’entropie: un modèle issu de l’éconophysique | |
| dc.title | Cálculo de la función de producción mediante entropía: un modelo desde la econofísica | |
| dc.type | Article | |
| dc.type.local | Artículo | spa |
| dc.type.version | info:eu-repo/semantics/publishedVersion |