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Comparing Bibliometric Analysis Using PubMed, Scopus, and Web of Science Databases
Published on: October 24, 2019
Economic Entropy and the Cobb-Douglas Function: A Scientometric Analysis
Isabel Cristina Betancur-Hinestroza1, Nini Johana Marín-Rodríguez2, Francisco J Caro-Lopera2
1Faculty of Economic Sciences, University of Medellin, Medellín 050026, Colombia.
Abstract:
Economic entropy, as an emerging concept in econophysics, has gained increasing relevance in the analysis of complex systems characterized by uncertainty, nonlinearity, and out-of-equilibrium dynamics. However, its integration into conventional economic modeling-particularly in production functions such as the Cobb-Douglas function-remains fragmented and lacks systematic empirical validation. This study conducts a scientometric analysis of 345 Scopus-indexed documents (1973-2024) addressing the intersection between entropy, econophysics, and production functions, with the aim of mapping the intellectual structure of the field, characterizing its growth trends, identifying its core contributions, and highlighting its main research gaps. The results reveal that the field has experienced sustained growth since 2004, with a notable acceleration between 2020 and 2023, although it exhibits a fragmented authorship structure that does not conform to Lotka's Law, suggesting that the field is still in a stage of scientific consolidation. The Cobb-Douglas function emerges as a niche topic within the econophysics literature, with limited integration between entropy-based approaches-informational, thermodynamic, and maximum entropy-and the empirical modeling of production. Furthermore, weak citation linkages between econophysics and conventional economics are observed, confirming the interdisciplinary fragmentation of the field. These findings provide a structured reference for researchers interested in advancing toward analytical frameworks that explicitly incorporate uncertainty, information, and physical constraints into economic analysis, thereby contributing to the development of econophysics as an integrative discipline.
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