Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/283466 
Year of Publication: 
2023
Series/Report no.: 
AWI Discussion Paper Series No. 738
Publisher: 
University of Heidelberg, Department of Economics, Heidelberg
Abstract: 
Routine action', a form to take action, is widely accepted in the economic field, because of its resource saving effect which contributes to average cost degression. However, from an entropic point of view, each form of acting requires decision making in regard to consumption of resources and causes entropic effects. Therefore, any kind of mechanistic resource management has to be avoided, even for routine action, when well-balanced economic-entropic actions, as to call them sustainable, are the objective. The paper shows how entropic and economic advantages and disadvantages of routine action can be brought together in a ratio to measure its sustainability's relevance.
Subjects: 
thermodynamics
decision making
entropy
routine action
micro theory
sustainability
opportunity cost
opportunity revenue
learning curve effect
average cost degression
JEL: 
B21
B49
D24
D29
B41
M10
M20
P18
Q43
Q56
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.