Thermodynamic Properties in the Evolution of Firms and Innovation Systems

14 Pages Posted: 2 Dec 2015

See all articles by Mikel Gómez-Uranga

Mikel Gómez-Uranga

University of the Basque Country

Goio Etxebarria

Universidad del País Vasco (UPV/EHU) - Department of Applied Economics

Date Written: December 1, 2015

Abstract

Since its beginnings, economics, as a scientific discipline, has imported knowledge from other sciences (i.e. physics, biology, ecology, mathematics, etc.). Our aim is to bring the methodological tools of the thermodynamics in areas as the innovation. Moreover, these tools can be extended to environments as well as territorial contexts.

This paper first introduces some of the properties of thermodynamics that would help explain the evolution of Complex Adaptive Systems. In particular, emphasis is placed on the innovation area. There are proposed various examples as how are applied some of those properties. First, we show a probabilistic model to find the probability that a small or medium enterprise would be regarded as “innovative.” Finally, we analyse the Big Data trend as a risky challenge mainly for SME firms.

Keywords: Thermodynamics, Complex Adaptive System, Innovation

JEL Classification: 032, 033

Suggested Citation

Gómez-Uranga, Mikel and Etxebarria, Goio, Thermodynamic Properties in the Evolution of Firms and Innovation Systems (December 1, 2015). Available at SSRN: https://ssrn.com/abstract=2697747 or http://dx.doi.org/10.2139/ssrn.2697747

Mikel Gómez-Uranga

University of the Basque Country ( email )

Bilbao
Spain

Goio Etxebarria (Contact Author)

Universidad del País Vasco (UPV/EHU) - Department of Applied Economics ( email )

Avda. Lehendakari Aguirre 83
E-48015 Bilbao
Spain

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