The basic idea for any chance of infusion of thermoeconomics into behavioural aspects of finance is my proposed multidisciplinary research area. Impact of the various production techniques and its rippling effect on the mindset is what i am trying to go forward with.
is it a worthy topic?
is it a beneficial area that can impact the growth?
Money as access to energy and natural resources is an interesting research topic, with respect to biophysical economy and financial behavior. This school of economic thought deviates from mainstream approaches, e.g. Hall and Klittgard: Energy and Wealth of Nations (book). So, it will be difficult to place that research into a wider academic and scientific discourse community. Counting the next 2 decades, we will see the physics of social systems emerging as a future field.
Stephen I. Ternyik As the proposal seems vague,i would like to know whether the following can be initiated under any circumstance as a research according to your expertise?
please consider the following :
"IMPACT OF BEHAVIOURAL FINANCE ON THERMO ECONOMICS
The rise of thermo economic concept can be traced from almost 1980s,but the effectiveness of the same was quite a debatable topic for many researchers across the globe for a while.The whole idea of thermo economics revolves around converting the energy into traceable cost oriented methods so as to enhance the value of output as well as the improved profits. It provides the designers with information regarding the cost formation process, as well as the interactions among thermodynamics and economics and among the various plant components, all of which are important for improvement of energy system designs.
In this scenario, adding a multidisciplinary approach to the existing thermo economics through sewing up and enhancing the same through behavioural finance concept is the essence of the proposed research.An authentic rational process which if applied would generate positive outcomes ranging from sustainable and environmentally responsible industrial processes to cost effective means of energy use is the base idea for Thermo economics,but the unknown block that slows down to reachout to this concept is the gap the research is trying to analyse and sort out with the help of the behavioural finance concepts and ideas.
- Example: In automobile industry (manufacturing),all the popular car manufacturers know the fact that in the near future the whole sector can be depending upon multiple power sources which will be far reliable and cleaner, precisely -“Electricity”.Many had been sharpening their R&D on the same,but despite of this fact,many companies are moving at a slower pace towards this change than the required,which proves that the firms are somewhere falling in short of making a rational decision;which is often expected."
Alan George Vellaiparambill A thermoeconomic synopsis of existing approaches, with special reference to the tech-know-logical evolution of the automobile industry can surely make sense, especially the technical aspect of exponential manufacturing. In addition, to study the rational responses of firm behavior can spice up the research topic, in terms of innovation, i.e. technical creativity and engineering design vs. managerial economic choices and corporate policy.
Stephen I. Ternyik Thankyou sir for your valuable insight.It is my pleasure to get enlightened with the inputs you gave.
"The Infinite Resource: The Power of Ideas on a Finite Planet " by Ramez Naam
an amazing input for the topic to work upon. Any further content you would like to recommend sir?
Yes: http://iaisae.org/index.php/about-ict20/
and: https://biblio.repec.org/entry/bbb.html
https://www.researchgate.net/deref/https%3A%2F%2Fbiblio.repec.org%2Fentry%2Fbbb.html
an amazing piece of work attached with valuable bibliography links.Thankyou
@Stephen I.Ternyik
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