Role of intensive and extensive variables in a soup of firms in economy to address long run prices and aggregate data

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• 作者：Ali Hosseiny^a ; ^{Al_hosseiny@sbu.ac.ir} ; Mauro Gallegati^b ; ^{mauro.gallegati@univpm.it}
• 关键词：Intensive variables ; Extensive variables ; Cost disease phenomenon ; Neoclassical economy ; Aggregation ; Labor income
• 刊名：Physica A: Statistical Mechanics and its Applications
• 出版年：2017
• 出版时间：15 March 2017
• 年：2017
• 卷：470
• 期：Complete
• 页码：51-59
• 全文大小：390 K
• 卷排序：470

文摘

Production function has been revisited from a thermodynamic view point. Wage and the rate of return on capital play the role of intensive variables. Production, the number of labors, and capital play the role of extensive variables. Aggregation can not be addressed except if we know the utility preferences. In a toy model, given the utility, aggregate production and labor share are worked out.