Search results
Results From The WOW.Com Content Network
t. e. The Ramsey–Cass–Koopmans model, or Ramsey growth model, is a neoclassical model of economic growth based primarily on the work of Frank P. Ramsey, [ 1] with significant extensions by David Cass and Tjalling Koopmans. [ 2][ 3] The Ramsey–Cass–Koopmans model differs from the Solow–Swan model in that the choice of consumption is ...
Ramsey problem. The Ramsey problem, or Ramsey pricing, or Ramsey–Boiteux pricing, is a second-best policy problem concerning what prices a public monopoly should charge for the various products it sells in order to maximize social welfare (the sum of producer and consumer surplus) while earning enough revenue to cover its fixed costs. Under ...
Arrow's theorem establishes that no ranked voting rule can always satisfy independence of irrelevant alternatives, but it says nothing about the frequency of spoilers. This led Arrow to remark that "Most systems are not going to work badly all of the time. All I proved is that all can work badly at times."
A hair whorl. The hairy ball theorem of algebraic topology (sometimes called the hedgehog theorem in Europe) [ 1] states that there is no nonvanishing continuous tangent vector field on even-dimensional n -spheres. [ 2][ 3] For the ordinary sphere, or 2‑sphere, if f is a continuous function that assigns a vector in R3 to every point p on a ...
Indifference curve. In economics, an indifference curve connects points on a graph representing different quantities of two goods, points between which a consumer is indifferent. That is, any combinations of two products indicated by the curve will provide the consumer with equal levels of utility, and the consumer has no preference for one ...
Take a look below. 1) More crunches equal a flatter tummy. The truth is that everyone has ab muscles that stay hidden underneath a thick layer of fat. The key is to focus on burning fat. 2 ...
Eating a balanced, nutrient-dense diet is key to a flat stomach, but knowing specific items that may affect this can help you feel more prepared in your goals.The following list of "worst foods ...
Adam Smith FRS FRSE FRSA (baptised 16 June [ O.S. 5 June] 1723 [ 1] – 17 July 1790) was a Scottish [ a] economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. [ 3] Seen by some as "The Father of Economics" [ 4] or "The Father of Capitalism", [ 5] he wrote two classic ...