Gini Coefficient
● The Gini coefficient is a measure of the inequality of a distribution, a value of 0 expressing total equality and a value of 1 expressing maximal inequality.
Pareto Optimality
● Given an initial allocation of goods among a t of individuals, a change to a different allocation that makes at least one individual better off without making any other individual wor off is called a Pareto improvement. An allocation is defined as "Pareto efficient" or "Pareto optimal" when no further Pareto improvements can be made.
transaction cost
● 教师随笔30篇In economics and related disciplines, a transaction cost is a cost incurred in making an economic exchange. Such as search and information costs, bargaining costs, policing and enforcement costs.
natural monopoly
● A natural monopoly aris where the largest supplier in an industry, often the first supplier in a market, has an overwhelming cost advantage over other actual and potential competitors. Examples include public utilities such as water rvices and electricity.
externality
● An externality is a cost or benefit, not transmitted through prices, incurred by a party who did not agree to the action causing the cost or benefit. A benefit in this ca is called a positive externality or external benefit, while a cost is called a negative externality or external cost.
welfare economics
● Welfare economics is a branch of economics that us microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium within an economy as to economic efficiency and the resulting income distribution associated with it. It analyzes social welfare, however measured, in terms of economic activities of the individuals that compri the theoretical society considered.
Fundamental Theorem of Welfare Economics
● There are two fundamental theorems of welfare economics. The first states that any competitive equilibrium leads to a Pareto efficient allocation of resources. The cond states the conver, that any efficient allocation can be sustainable by a competitive equilibrium.
social welfare function
● A social welfare function is a real-valued function that ranks conceivable social states from lowest to highest. Inputs of the function include any variables considered to affect welfare of the society.
government failure
● 严寒造句Government failure is the public ctor analogy to market failure and occurs when a government intervention caus a more inefficient allocation of goods and resources than would occur without that intervention.
意大利面培训
人物线稿voting paradox
● The voting paradox is a situation in which collective preferences can be cyclic传统养生, even if the preferences of individual voters are not. This is paradoxical, becau it means that majority wishes can be in conflict with each other.
节约粮食手抄报图片Arrow’s impossibility theorem
● Arrow’s impossibility theorem states that, when voters have three or more discrete alternatives, no voting system can convert the ranked preferences of individuals into a community-wide ranking while also meeting a certain t of criteria.
logrolling
● Logrolling is the trading of favors, such as vote trading by legislative members to obtain passage of actions of interest to each legislative member.
median voter
● The median voter theory posits that in a majority election, if voter policy preferences can be reprented as a point along a single dimension, if all voters vote deterministically for the politician who commits to a policy position clost to their own preference, and if there are only two politicians, then a politician maximizes their number of votes by committing to the policy position preferred by the median voter.
Wagner’s Law
● 云计算导论The Wagner's law predicts that the development of an industrial economy will be accompanied by an incread share of public expenditure in gross national product: “The advent of modern industrial society will result in increasing political pressure for social progress and incread allowance for social consideration by industry.”
public goods
● A public good is a good that is non-rival and non-excludable. Non-rivalry means that consumption of the good by one individual does not reduce availability of the good for co
恋子情节nsumption by others; and non-excludability that no one can be effectively excluded from using the good.
Collective goods
● Collective goods are defined public goods that could be delivered as private goods, but are usually delivered by the government for various reasons, including social policy, and finances from like taxes.
Free rider problem
● Free riders are tho who consume more than their fair share of a public resource, or shoulder less than a fair share of the costs of its production. Free riding is usually considered to be an economic "problem" only when it leads to the non-production or under-production of a public good, or when it leads to the excessive u of a common property resource. The free rider problem is the question of how to limit free riding in the situations.
