Biophysical and thermodynamic foundations of energy economics: introducing the novel concept of econobolism
摘要
In biophysics and thermodynamics, organisms’ energy use is proportional to their mass, whereby larger organisms are more energy-efficient, according to the Kleiber and Constructal laws, respectively. This raises questions in energy economics about whether energy consumption is proportional to economic size, and whether larger economies are more energy efficient. To answer these questions, this research aims to examine the Kleiber and Constructal laws in the context of energy economics. To this end, it combines machine learning and econometric methods including k-clustering, Fixed Effects (FE), Random Effects (RE), Generalized Least Squares (GLS), and Driscoll and Kraay (The Review of Economics and Statistics, 80(4), 549–560,