Search results
Results From The WOW.Com Content Network
Praxeology. In philosophy, praxeology or praxiology ( / ˌpræksiˈɒlədʒi /; from Ancient Greek πρᾶξις (praxis) 'deed, action' and -λογία (-logia) 'study of') is the theory of human action, based on the notion that humans engage in purposeful behavior, contrary to reflexive behavior and other unintentional behavior.
The impossible trinity (also known as the impossible trilemma, the monetary trilemma or the Unholy Trinity) is a concept in international economics and international political economy which states that it is impossible to have all three of the following at the same time: a fixed foreign exchange rate. free capital movement (absence of capital ...
Exchange economy. Exchange economy is technical term used in microeconomics research to describe interaction between several agents. In the market, the agent is the subject of exchange and the good is the object of exchange. Each agent brings his/her own endowment, and they can exchange products among them based on a price system.
e. Social exchange theory is a sociological and psychological theory that studies the social behavior in the interaction of two parties that implement a cost-benefit analysis to determine risks and benefits. The theory also involves economic relationships—the cost-benefit analysis occurs when each party has goods that the other parties value ...
The insider-outsider theory is a theory of labor economics that explains how firm behavior, national welfare, and wage negotiations are affected by a group in a more privileged position. [1] The theory was developed by Assar Lindbeck and Dennis Snower in a series of publications beginning in 1984. [1] [2] [3] Wages set by insiders [4] The ...
Dummy variable (statistics) A graph showing the gender wage gap. In regression analysis, a dummy variable (also known as indicator variable or just dummy) is one that takes a binary value (0 or 1) to indicate the absence or presence of some categorical effect that may be expected to shift the outcome. [ 1] For example, if we were studying the ...
Social identity is the portion of an individual's self-concept derived from perceived membership in a relevant social group. [ 1][ 2] As originally formulated by social psychologists Henri Tajfel and John Turner in the 1970s and the 1980s, [ 3] social identity theory introduced the concept of a social identity as a way in which to explain ...
Here are three reasons why it’s a good idea to track rates. 1. Get the best value for money. Exchange rates move up and down over time, and if you’re not tracking them, you could end up paying ...