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equilibrium path

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  • Path dependence — explains how the set of decisions one faces for any given circumstance is limited by the decisions one has made in the past, even though past circumstances may no longer be relevant. [Definition from [http://poopthebook.com/blog/?p=20 Our Love Of …   Wikipedia

  • Equilibrium (Erik Mongrain album) — Infobox Album Name = Equilibrium Type = studio Artist = Erik Mongrain Released = October 2008 Recorded = July 2008 Genre = Acoustic guitar Length = 40min 24s Label = Alter Ego Musique, Prophase Music Producer = Alter Ego Musique Reviews = Last… …   Wikipedia

  • Quantal response equilibrium — infobox equilibrium name=Quantal response equilibrium subsetof = Bayes Nash equilibrium supersetof = Nash equilibrium, Logit equilibrium discoverer = Richard McKelvey and Thomas Palfrey usedfor = Non cooperative games example = Traveler s… …   Wikipedia

  • Determination of equilibrium constants — Equilibrium constants are determined in order to quantify chemical equilibria. When an equilibrium constant is expressed as a concentration quotient, it is implied that the activity quotient is constant. In order for this assumption to be valid… …   Wikipedia

  • General equilibrium — theory is a branch of theoretical microeconomics. It seeks to explain the behavior of supply, demand and prices in a whole economy with several or many markets. It is often assumed that agents are price takers and in that setting two common… …   Wikipedia

  • Nash equilibrium — A solution concept in game theory Relationships Subset of Rationalizability, Epsilon equilibrium, Correlated equilibrium Superset of Evolutionarily stable strategy …   Wikipedia

  • Quasistatic equilibrium — is the quasi balanced state of a thermodynamic system near to thermodynamic equilibrium in some sense or degree. A process is called quasi static when it follows a succession of equilibrium states; the surroundings may be irreversibly altered… …   Wikipedia

  • Okishio's theorem — is a mathematical theorem formulated by Japanese economist Nobuo Okishio. It has had a major impact on debates about Marx s theory of value. Intuitively, it can be understood as saying that if one capitalist raises his profits by introducing a… …   Wikipedia

  • Stackelberg competition — The Stackelberg leadership model is a strategic game in economics in which the leader firm moves first and then the follower firms move sequentially. It is named after the German economist Heinrich Freiherr von Stackelberg who published Market… …   Wikipedia

  • Solution concept — In game theory, a solution concept is a formal rule for predicting how the game will be played. These predictions are called solutions , and describe which strategies will be adopted by players, therefore predicting the result of the game. The… …   Wikipedia

  • Bayesian game — In game theory, a Bayesian game is one in which information about characteristics of the other players (i.e. payoffs) is incomplete. Following John C. Harsanyi s framework, a Bayesian game can be modelled by introducing Nature as a player in a… …   Wikipedia

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