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Hicks optimal

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  • Hicks optimality — In game theory, a Hicks optimal outcome, named after John Hicks, is an outcome in which the total payoff for all of the players of a game is the most it could possibly be. A Hicks optimal outcome is always Pareto efficient …   Wikipedia

  • Kaldor-Hicks efficiency — (named for Nicholas Kaldor and John Hicks) is a measure of economic efficiency that captures some of the intuitive appeal of Pareto efficiency, but has less stringent criteria and is hence applicable to more circumstances. Under Kaldor Hicks… …   Wikipedia

  • Welfare economics — Economics …   Wikipedia

  • Sydney Chapman (economist) — Sir Sydney John Chapman KCB CBE FRS (20 April 1871 ndash;29 August 1951) was an English economist and civil servant.Early life and educationChapman was born in Wells next the Sea, Norfolk, the son of a merchant. His elder brother was the chemist… …   Wikipedia

  • OFFRE ET DEMANDE — L’offre et la demande représentent probablement les concepts les plus vénérables et les plus fondamentaux de la théorie économique. En effet, l’activité économique se résout essentiellement en une série de transactions effectuées par les agents… …   Encyclopédie Universelle

  • utility and value — ▪ economics Introduction       in economics, the determination of the prices of goods and services.       The modern industrial economy is characterized by a high degree of interdependence of its parts. The supplier of components or raw materials …   Universalium

  • Law and economics — Law and Economics, or economic analysis of law is an approach to legal theory that applies methods of economics to law. It includes the use of economic concepts to explain the effects of laws, to assess which legal rules are economically… …   Wikipedia

  • Mathematical economics — Economics …   Wikipedia

  • Microeconomics — The supply and demand model describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). The graph depicts a right shift in demand… …   Wikipedia

  • economic growth — Process by which a nation s wealth increases over time. The most widely used measure of economic growth is the real rate of growth in a country s total output of goods and services (gauged by the gross domestic product adjusted for inflation, or… …   Universalium

  • Life Quality Index — The Life Quality Index (LQI) is a compound social indicator of human welfare that reflects the expected length of life in good health and enhancement of the quality of life through access to income. The Life Quality Index combines two primary… …   Wikipedia

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