The Model

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Copyright: 2018
Pages: 30
Source title: Ranking Economic Performance and Efficiency in the Global Market: Emerging Research and Opportunities
Source Author(s)/Editor(s): Benjamen Franklen Gussen (University of Southern Queensland, Australia & Australian Law and Economics Association, Australia)
DOI: 10.4018/978-1-5225-2756-5.ch002

Keywords: Business & Management / Business Science Reference / Economics & Economic Theory / Economics and Economic Theory

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Abstract

This chapter introduces the ? model, the analytical model used to investigate the economic efficiency of countries. The chapter provides an explanation of this model through the second law of thermodynamics, the concept of ‘complex energy,' and the principle of equipartition (from statistical mechanics). To eliminate the need for using energy units, and to enable the conversion between different input and outputs, the engineering concept of per-unit is also introduced.

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