Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/324323 
Year of Publication: 
2025
Series/Report no.: 
AWI Discussion Paper Series No. 765
Publisher: 
University of Heidelberg, Department of Economics, Heidelberg
Abstract: 
Thermodynamic laws are dominant and not deniable, we need to consider those in the context of system theory. From the system's perspective the entropy issue is decisive for the evaluation of future economic options and constraints. The paper sensitizes for entropic adequate firm acts in regard to resource management. Are system decisions reversible? The quality of entropy growth reflects the system's chance to keep up the space of acts, at least to prolong the space of acts. The system's observer and his information requirements are expressed in the entropy indicator. Graphic solutions, such as pictograms among others, are developed and highlighted which support the attempt to reduce or at least to lighten complexity in the management of resources. Graphical devices for the measurement of system entropy are presented. The combined illustrations in the paper enhance a firm's ability for operational resource management under the predominance of entropy law, for example within working groups.
Subjects: 
closed and open system
thermodynamics
decision making
entropy
steady state and thermodynamic equilibrium
firm
JEL: 
B49
D24
D29
B41
M10
M20
P18
Q43
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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