Exergy analysis is based on combined first and second laws of thermodynamics and is a useful tool to analyze the energy systems in a better and more realistic way than an energy analysis, based on the first law of thermodynamics. Combination of exergy from thermodynamics with conventional concepts from engineering economy which is referred to as thermo-economy (exergo-economy) is a valuable too...

Exergy analysis is based on combined first and second laws of thermodynamics and is a useful tool to analyze the energy systems in a better and more realistic way than an energy analysis, based on the first law of thermodynamics. Combination of exergy from thermodynamics with conventional concepts from engineering economy which is referred to as thermo-economy (exergo-economy) is a valuable too...

Our society has evolved through the product economy and the service economy to the experience economy. Due to this fact the value of a travel product, nowadays, is far beyond the goods and services. Experiences are driving the travel industry and make the travel product more and more diverse. Moreover, not only the travel experience itself, but also an experience of buying a travel package beco...

In this work, I construct an extended model of the Heckscher-Ohlin model, in which there is an assignment problem of how to assign workers to two types of endowments, skilled and unskilled labor. In the comparative statics for a small open economy, when product prices change, the outputs change more than in the HeckscherOhlin model. In the comparative statics for a whole economy, when consumer ...

HE “new economy” and the favorable economic conditions accompanying it have been the subject of considerable attention in the media, on Wall Street, among economists, at central banks, and in government agencies. Although some seem to take it on faith that there is a permanent change in the economy powering the strong performance of the U.S. economy over the last 5 years, many question this vie...

Today innovation is considered the main driver for growth in the new economy and it therefore follows that to sustain any competitive advantage, continuous innovation is a pre-requisite in most industries [1]. However, innovation is by no means straightforward and for large firms, this situation is further exacerbated when small, entrepreneurial firms react to changing market conditions quicker...