socially optimal price
1Price of anarchy — The price of anarchy is a concept from game theory that describes the difference in maximum social utility and the utility of an equilibrium point of the game.DefinitionGiven a game G=(N,A,u), it is natural to consider the social welfare , i.e.… …
2monopoly — Absolute control of all sales and distribution in a market by one firm, due to some barrier to entry of other firms, allowing the firm to sell at a higher price than the socially optimal price. Bloomberg Financial Dictionary * * * monopoly… …
3monopsony — The existence of only one buyer in a market, forcing sellers to accept a lower price than the socially optimal price. Bloomberg Financial Dictionary * * * monopsony mo‧nop‧so‧ny [məˈnɒpsəni ǁ ˈnɑː ] noun [uncountable] ECONOMICS a situation where… …
4Социально оптимальная цена — цена продукта, которая позволяет достичь эффективного распределения ресурсов в экономике. Социально оптимальная цена равна предельным издержкам на производство последней единицы продукта. По английски: Socially optimal price См. также:… …
5Mechanism design — The Stanley Reiter diagram above illustrates a game of mechanism design. The upper left space Θ depicts the type space and the upper right space X the space of outcomes. The social choice function f(θ) maps a type profile to an outcome. In games… …
6Externality — External redirects here. For other uses, see External (disambiguation). In economics, an externality (or transaction spillover) is a cost or benefit, not transmitted through prices,[1] incurred by a party who did not agree to the action causing… …
7Marginal cost — A typical marginal cost curve with marginal revenue overlaid In economics and finance, marginal cost is the change in total cost that arises when the quantity produced changes by one unit. That is, it is the cost of producing one more unit of a… …
8Wage slavery — is a term first coined by the Lowell Mill Girls in 1836, [ [http://books.google.com/books?id=YXT kSv1btIC pg=PA87 lpg=PA87 dq=lowell+%22wage+slavery%22 source=web ots=WsT3bkI 0G sig=w7N0JGBskFiUHReS 00amVMNaPY hl=en Artisans Into Workers: Labor… …
9Environmental economics — is a subfield of economics concerned with environmental issues. Quoting from the National Bureau of Economic Research Environmental Economics program:Cquote| [...] Environmental Economics [...] undertakes theoretical or empirical studies of the… …
10Efficiency wages — In labor economics, the efficiency wage hypothesis argues that wages, at least in some markets, are determined by more than simply supply and demand. Specifically, it points to the incentive for managers to pay their employees more than the… …
