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Banks and Politics in America (1957) () is a book by Bray Hammond, which describes the differences in banking and politics in the United States between the American Revolution and the Civil War period. The book was awarded the 1958 Pulitzer Prize for History. | https://en.wikipedia.org/wiki?curid=14400312 |
Backus–Smith puzzle In economics, the or consumption – real-exchange-rate anomaly is the observation that the correlations between consumption and real exchange rates are zero or negative. This is contrary to economic theory which predicts that with full risk sharing, relative consumption should be perfectly correlated... | https://en.wikipedia.org/wiki?curid=14408484 |
Trademark classification A trademark classification is a way the trademark examiners and applicants' trademark attorneys arrange documents, such as trademark and service mark applications, according to the description and scope of the types of goods or services to which the marks apply. The same trademark or service ma... | https://en.wikipedia.org/wiki?curid=14414517 |
Trademark classification Within the broad categories of trademarks and service marks there are dozens of international classes defined for each category. See, e.g., International (Nice) Classification of Goods and Services. For the purpose of obtaining a trademark clearance, it is advisable to search all related classi... | https://en.wikipedia.org/wiki?curid=14414517 |
AD–AS model The AD–AS or aggregate demand–aggregate supply model is a macroeconomic model that explains price level and output through the relationship of aggregate demand and aggregate supply. It is based on the theory of John Maynard Keynes presented in his work "The General Theory of Employment, Interest and Money".... | https://en.wikipedia.org/wiki?curid=14425627 |
AD–AS model It shows the combinations of the price level and level of the output at which the goods and assets markets are simultaneously in equilibrium. The above figure showing IS and LM curves, where LM curve shifts downward to the right to LM’ and thus shifting the new equilibrium to E’ where both the goods and the... | https://en.wikipedia.org/wiki?curid=14425627 |
AD–AS model An increase in real balances will lead to a larger increase in equilibrium income and spending, the smaller the interest responsiveness of money demand and the higher the interest responsiveness of investment demand. An increase in real balances leads to a larger level of income and spending, the larger the... | https://en.wikipedia.org/wiki?curid=14425627 |
AD–AS model The Keynesian aggregate supply curve shows that the AS curve is significantly horizontal implying that the firm will supply whatever amount of goods is demanded at a particular price level during an economic depression. The idea behind that is because there is unemployment, firms can readily obtain as much ... | https://en.wikipedia.org/wiki?curid=14425627 |
AD–AS model It is also due to the scarcity of natural resources, the rarity of which causes increased production to also become more expensive. The vertical section of the Keynesian curve corresponds to the physical limit of the economy, where it is impossible to increase output. The classical aggregate supply curve co... | https://en.wikipedia.org/wiki?curid=14425627 |
AD–AS model The consequence of this is increased production costs for firms, causing short-run aggregate demand to shift back inwards. The theoretical ultimate result is inflation. The mainstream AS-AD model contains both a long-run aggregate supply curve (LRAS) and a short-run aggregate supply (SRAS) curve essentially... | https://en.wikipedia.org/wiki?curid=14425627 |
AD–AS model The long-run aggregate supply curve of the classical model is affected by events that affect the potential output of the economy. Factors revolve around changes in the quality and quantity of factors of production. Keynesian Case: If there is a fiscal expansion i.e. there is an increase in the government sp... | https://en.wikipedia.org/wiki?curid=14425627 |
AD–AS model The equation for the aggregate supply curve in general terms for the case of excess supply in the labor market, called the short-run aggregate supply curve, is where W is the nominal wage rate (exogenous due to stickiness in the short run), P is the anticipated (expected) price level, and Z is a vector of e... | https://en.wikipedia.org/wiki?curid=14425627 |
AD–AS model The following summarizes the exogenous events that could shift the aggregate supply or aggregate demand curve to the right. Exogenous events happening in the opposite direction would shift the relevant curve in the opposite direction. The following exogenous events would shift the aggregate demand curve to ... | https://en.wikipedia.org/wiki?curid=14425627 |
AD–AS model Milton Friedman was the recognized intellectual leader of an influential group of economists, called monetarists, who emphasize the role of money and monetary policy in affecting the behaviour of output and prices. The modern quantity theory also disagrees with the strict quantity theory in not believing th... | https://en.wikipedia.org/wiki?curid=14425627 |
Sargan–Hansen test The or Sargan's formula_1 test is a statistical test used for testing over-identifying restrictions in a statistical model. It was proposed by John Denis Sargan in 1958, and several variants were derived by him in 1975. Lars Peter Hansen re-worked through the derivations and showed that it can be ext... | https://en.wikipedia.org/wiki?curid=14427248 |
Sargan–Hansen test , over-identifying restrictions are automatically built into models estimated using longitudinal data. | https://en.wikipedia.org/wiki?curid=14427248 |
Keynesian cross The diagram is a formulation of the central ideas in Keynes' General Theory. It first appeared as a central component of macroeconomic theory as it was taught by Samuelson in his textbook, Economics: An Introductory Analysis. The Keynesian Cross plots aggregate income (labelled as Y on the horizontal ax... | https://en.wikipedia.org/wiki?curid=14430274 |
Keynesian cross But only the value of the cars that are sold is part of planned aggregate expenditure. In the diagram, the equilibrium level of income and expenditure is determined where the aggregate demand curve intersects the 45-degree line. At this point there is no unintended accumulation of inventories. The equil... | https://en.wikipedia.org/wiki?curid=14430274 |
Keynesian cross These consist of consumption expenditure C, planned investment expenditure, I, government expenditure on goods and services, G and exports net of imports, NX. In the simplest exposition of Keynesian theory, the economy is assumed to be closed (which implies that NX = 0), and planned investment is exogen... | https://en.wikipedia.org/wiki?curid=14430274 |
Keynesian cross They were envisaged as relationships connecting GDP and the volume of employment. Keynes devoted an entire chapter of the General Theory, chapter 4, to the choice of units. In the book, he uses only two units: money units and labor hours. GDP can be unambiguously measured in monetary units such as dolla... | https://en.wikipedia.org/wiki?curid=14430274 |
Keynesian cross The "AD" curve is assumed to be positive because an increase in national output should lead to an increase in disposable income and, thus, an increase in consumption, which makes up a portion of aggregate demand. Second, the "AD" curve is assumed to have a positive, vertical intercept. The "AD" curve mu... | https://en.wikipedia.org/wiki?curid=14430274 |
Hydrocarbon economy is a term referencing the global hydrocarbon industry and its relationship to world markets. Energy used mostly comes from three hydrocarbons: petroleum, coal, and natural gas. is often used when talking about possible alternatives like the hydrogen economy. | https://en.wikipedia.org/wiki?curid=14445477 |
Monetae cudendae ratio "Monetae cudendae ratio" (also spelled "Monetæ cudendæ ratio"; English: "On the Minting of Coin" or "On the Striking of Coin"; sometimes, "Treatise on Money") is a paper on coinage by Nicolaus Copernicus (Polish: Mikołaj Kopernik). It was written in 1526 at the request of Sigismund I the Old, Kin... | https://en.wikipedia.org/wiki?curid=14481970 |
Monetae cudendae ratio In the same work, Copernicus also formulated an early version of the quantity theory of money, or the relation between a stock of money, its velocity, its price level, and the output of an economy. Like many later classical economists of the 18th and 19th centuries, he focused on the connection b... | https://en.wikipedia.org/wiki?curid=14481970 |
Kiyotaki–Moore model The of credit cycles is an economic model developed by Nobuhiro Kiyotaki and John H. Moore that shows how small shocks to the economy might be amplified by credit restrictions, giving rise to large output fluctuations. The model assumes that borrowers cannot be forced to repay their debts. Therefor... | https://en.wikipedia.org/wiki?curid=14503276 |
Kiyotaki–Moore model The "impatient" agents are called "farmers" in the original paper, but should be interpreted as entrepreneurs or firms that wish to borrow in order to finance their investment projects. Two key assumptions limit the effectiveness of the credit market in the model. First, the knowledge of the "farme... | https://en.wikipedia.org/wiki?curid=14503276 |
Kiyotaki–Moore model This positive feedback is what amplifies economic fluctuations in the model. The paper also analyzes cases where debt contracts are set only in nominal terms or where contracts can be set in real terms, and considers the differences between the cases. The original paper of Kiyotaki and Moore was th... | https://en.wikipedia.org/wiki?curid=14503276 |
Carter bonds are a series of Treasury bonds issued by the United States in 1978 to prevent a fall of the US Dollar. The name comes from the US President Jimmy Carter. It was enacted under the Exchange Stabilization Fund. In contrast to typical Treasury bonds, which are denominated in US dollars and so do not expose the... | https://en.wikipedia.org/wiki?curid=14506504 |
Acceptance credit An acceptance credit is a type of letter of credit that is paid by a time draft authorizing payment on or after a specific date, if the terms of the letter of credit have been complied with. There are two types of acceptance credit, confirmed and unconfirmed. Unconfirmed acceptance credit means that t... | https://en.wikipedia.org/wiki?curid=14508968 |
Acceptance credit Under the arrangement the issuing company presents bills of exchange to the bank for acceptance, confirmation and sale at a discount to face value (representing the finance cost until maturity). The discounted sum is made available to the issuing company until the bill's maturity when it is obliged to... | https://en.wikipedia.org/wiki?curid=14508968 |
Divisia index A is a theoretical construct to create index number series for continuous-time data on prices and quantities of goods exchanged. The name comes from François Divisia who first proposed and formally analyzed the indexes in 1926, and discussed in related 1925 and 1928 works. The is designed to incorporate q... | https://en.wikipedia.org/wiki?curid=14511439 |
Divisia index To define and compute changes in a discrete time index closely analogous to a from time 0 to time 1: Divisia indexes were proposed and analyzed formally by François Divisia in 1926, and discussed in related 1925 and 1928 works. | https://en.wikipedia.org/wiki?curid=14511439 |
Commissioner v. First Security Bank of Utah, N.A. Commissioner v. First Security Bank of Utah, N.A., 405 U.S. 394 (1972), was a Supreme Court case holding that a bank prohibited from doing insurance business did not need to include in gross income the insurance commissions on credit life insurance that the bank referre... | https://en.wikipedia.org/wiki?curid=14513212 |
Scottish government economy directorates The were a set of directorates within the Scottish government, the executive arm of the devolved government of Scotland. The directorates were headed by Dr Andrew Goudie, who also acted as the chief economic adviser to the Scottish government (Goudie retired in 2011 and joined S... | https://en.wikipedia.org/wiki?curid=14516153 |
Structural break In econometrics and statistics, a structural break is an unexpected change over time in the parameters of regression models, which can lead to huge forecasting errors and unreliability of the model in general. This issue was popularised by David Hendry, who argued that lack of stability of coefficients... | https://en.wikipedia.org/wiki?curid=14528980 |
Structural break , the supremum of a set of likelihood ratio statistics) tests developed by Andrews (1993, 2003) may be used to test for parameter instability when the number and location of structural breaks are unknown. These tests were shown to be superior to the CUSUM test in terms of statistical power, and are the... | https://en.wikipedia.org/wiki?curid=14528980 |
Structural break There are several statistical packages that can be used to find structural breaks, including R, GAUSS, and Stata, among others. | https://en.wikipedia.org/wiki?curid=14528980 |
Estate of Rockefeller v. Commissioner Estate of Rockefeller v. Commissioner, 762 F.2d 264 (2d Cir. 1985), was a case in which the United States Court of Appeals for the Second Circuit held that section 162(a) of the Internal Revenue Code only allows deductions against income for expenses that occur while carrying on a ... | https://en.wikipedia.org/wiki?curid=14546358 |
Split labor market theory was proposed by sociologist Edna Bonacich in the early 1970s as an attempt to explain racial/ethnic tensions and labor market segmentation by race/ethnicity in terms of social structure and political power rather than individual-level prejudice. Bonacich argues that ethnic antagonism emerges f... | https://en.wikipedia.org/wiki?curid=14552304 |
Split labor market theory "Business or employers (capitalists)" aim to have a cheap and docile labor force in order to compete effectively with other businesses and maximize economic return. Business will dispense with and undercut the white working-class if they could, and have done so when they have the opportunity. ... | https://en.wikipedia.org/wiki?curid=14552304 |
Split labor market theory The objective of the capitalist is to get the best worker for the cheapest wage, and it is therefore in the capitalist's interest "not" to discriminate, because discrimination limits the pool of workers available for the position. Accordingly, those doing the hiring discriminate "not" because ... | https://en.wikipedia.org/wiki?curid=14552304 |
Split labor market theory traces the roots of racial/ethnic stratification to social and political differences that predate inter-group contact in the labor market, but the specific outcomes (caste system, exclusion, or something else) result mainly from the actions of the higher paid segment of the working class and t... | https://en.wikipedia.org/wiki?curid=14552304 |
Income deficit is the difference between a single person or family's income and its poverty threshold or poverty line, when the former is exceeded by the latter. Data on the income deficits of various members of a population allow for the construction of one type of measurement of income inequality in that population. ... | https://en.wikipedia.org/wiki?curid=14556084 |
Income deficit While the poverty line reflects the general circumstances of a household (specifically, number of people and location), it does not capture the household's individual circumstances, such as health problems. Therefore, supplemental poverty measures are also used to better represent the data. In the United... | https://en.wikipedia.org/wiki?curid=14556084 |
Repugnancy costs are costs borne by an individual or entity as a result of a stimulus that goes against that individual or entity's cultural mores. The cost could be emotional, physical, mental or figurative. The stimulus could be anything from food to people to an idea. These costs are perspective-dependent and indivi... | https://en.wikipedia.org/wiki?curid=14566697 |
Cass criterion The Cass criterion, also known as the Malinvaud–Cass criterion, is a central result in theory of overlapping generations models in economics. It is named after David Cass. A major feature which sets overlapping generations models in economics apart from the standard model with a finite number of infinite... | https://en.wikipedia.org/wiki?curid=14606730 |
Applicable convention An applicable convention, as presented in of the United States Internal Revenue Code, is an assumption about when property is placed into service. It is used to determine when property depreciation begins. The purpose of applicable conventions is to simplify depreciation because they do not requir... | https://en.wikipedia.org/wiki?curid=14620494 |
Applicable convention Specifically, if a taxpayer buys a lot of depreciable assets in the last three months of the taxable year, the taxpayer will in some cases be forced to use the mid-quarter convention, resulting in an even smaller depreciation deduction in the first year as compared to the half-year convention. Thi... | https://en.wikipedia.org/wiki?curid=14620494 |
Unicap UNICAP is an abbreviation for "Uniform Capitalization," a tax concept governed by United States Internal Revenue Code § 263A (). The "uniform capitalization rules" or UNICAP rules were essentially a codification of the result of case of "Commissioner v. Idaho Power Co.", 418 U.S. 1 (1974) The UNICAP rules requir... | https://en.wikipedia.org/wiki?curid=14626863 |
Unicap ) Indirect costs include such things as indirect labor costs, employee benefit expenses, indirect material costs, purchasing costs, handling costs, storage costs, rent, taxes, insurance, utilities, engineering and design costs, tools and equipment, bidding costs, interest, and licensing and franchise costs. Howe... | https://en.wikipedia.org/wiki?curid=14626863 |
Vacation home deductions In United States federal income tax, a Vacation home deduction is a tax deduction to be claimed on an individual taxpayer's vacation home. This deduction is limited under law. Generally, a taxpayer may not deduct expenses related to a vacation home since the owner uses the property for personal... | https://en.wikipedia.org/wiki?curid=14636932 |
Artnell Company v. Commissioner Artnell Company v. Commissioner, 400 F.2d 981 (7th Cir. 1968) is a decision by the 7th Circuit Court of Appeals, in which the court, distinguishing from the holding in "Schlude v. Commissioner", held that accrual method taxpayers are not required to include prepayments in gross income wh... | https://en.wikipedia.org/wiki?curid=14637791 |
Artnell Company v. Commissioner Despite the general rule that requires accrual method taxpayers to include advance payments in the year of receipt, the court carved out a narrow exception for taxpayers such as the petitioners, who are able to prove that services will be performed on fixed dates in one or more subsequen... | https://en.wikipedia.org/wiki?curid=14637791 |
Transactional net margin method The transactional net margin method (TNMM) in transfer pricing compares the net profit margin of a taxpayer arising from a non-arm's length transaction with the net profit margins realized by arm's length parties from similar transactions; and examines the net profit margin relative to a... | https://en.wikipedia.org/wiki?curid=14639141 |
Debt service ratio In economics and government finance, a country’s debt service ratio is the ratio of its debt service payments (principal + interest) to its export earnings. A country's international finances are healthier when this ratio is low. For most countries the ratio is between 0 and 20%. In contrast to the d... | https://en.wikipedia.org/wiki?curid=14643140 |
Mixed logit is a fully general statistical model for examining discrete choices. The motivation for the mixed logit model arises from the limitations of the standard logit model. The standard logit model has three primary limitations, which mixed logit solves: "It obviates the three limitations of standard logit by all... | https://en.wikipedia.org/wiki?curid=14645368 |
Mixed logit Conditional on formula_12, the probability that person n chooses alternative i is the standard logit formula: However, since formula_12 is random and not known, the (unconditional) choice probability is the integral of this logit formula over the density of formula_12. This model is also called the random c... | https://en.wikipedia.org/wiki?curid=14645368 |
Mixed logit It can be seen from this formula that "A ten-percent reduction for one alternative need not imply (as with logit) a ten-percent reduction in each other alternative." The relative percentages depend on correlation between the likelihood that respondent n will choose alternative i, "L ", and the likelihood th... | https://en.wikipedia.org/wiki?curid=14645368 |
Mixed logit To examine the correlation explicitly, assume that the "β" 's are normally distributed with mean formula_27 and variance formula_28. Then the utility equation becomes: and "η" is a draw from the standard normal density. Rearranging, the equation becomes: where the unobserved factors are collected in formula... | https://en.wikipedia.org/wiki?curid=14645368 |
Mixed logit ) 3. Repeat many times, for formula_50. 4. Average the results Then the formula for the simulation look like the following, formula_51 where R is the total number of draws taken from the distribution, and r is one draw. Once this is done you will have a value for the probability of each alternative i for ea... | https://en.wikipedia.org/wiki?curid=14645368 |
Total Intelligence Solutions Total Intelligence Solutions, LLC, (TIS) is a risk management and consulting company headquartered in Arlington, Virginia. The company delivers threat and vulnerability assessments, data acquisition capabilities, physical and information security services, training, and high-level consultin... | https://en.wikipedia.org/wiki?curid=14655899 |
Chase (lighting) A chase is an electrical application where strings of adjacent light bulbs cycle on and off frequently to give the illusion of lights moving along the string. With computerized lighting consoles, building chase sequences has become easier, while previously chases used mechanical means, such as a wheel ... | https://en.wikipedia.org/wiki?curid=14679902 |
Chase (lighting) Then after an adjustable period of time it turns OFF channel #1 while turning ON channel #2, then turn OFF channel #2 while turning ON channel #3, then turn OFF channel #3 while turning ON channel #4, then repeat. This creates the illusion that the in one direction. Some digital lighting chasers are ma... | https://en.wikipedia.org/wiki?curid=14679902 |
AirPlus International is a global provider of business travel payment solutions for corporations. Many products are offered to support business travel payment, accounting, and analysis functions. Lufthansa AirPlus Servicekarten GmbH only shareholder is Deutsche Lufthansa AG. The company’s tradition began in the year 19... | https://en.wikipedia.org/wiki?curid=14703657 |
Galápagos (radio show) Galápagos is an Ecuadorian radio show aired every Saturday at 2100 UTC on HCJB La Voz de los Andes (12000 kHz, 25m band). "Galápagos" is a 15 minute long radio show which talks about the economic and ecological development of the archipelago. It also promotes tourism and local music. The programm... | https://en.wikipedia.org/wiki?curid=14710935 |
Journal of Economic Dynamics and Control The ""(JEDC) is a peer-reviewed scholarly journal devoted to computational economics, dynamic economic models, and macroeconomics. It is edited at the University of Amsterdam and published by Elsevier. It has been published since 1979. The journal sometimes devotes special issue... | https://en.wikipedia.org/wiki?curid=14746891 |
Journal of Monetary Economics The is a peer-reviewed academic journal covering research on macroeconomics and monetary economics. It is published by Elsevier and was established in October 1973 by Karl Brunner and Charles I. Plosser. Beginning in 2002, it was merged with the Carnegie-Rochester Conference Series on Publ... | https://en.wikipedia.org/wiki?curid=14747212 |
The Review of Economic Studies (also known as "REStud") is a quarterly peer-reviewed academic journal covering economics. It was established in 1933 by a group of economists based in Britain and the United States. The original editorial team consisted of Abba P. Lerner, Paul Sweezy, and Ursula Kathleen Hicks. It is pub... | https://en.wikipedia.org/wiki?curid=14747430 |
The Review of Economic Studies " and that "Any member" of the editorial board "who becomes a Reader or Professor in a British University must resign his membership." In its early years, the journal was used to log the macroeconomic debates of younger followers of Friedrich Hayek (such as Abba Lerner) and John Maynard K... | https://en.wikipedia.org/wiki?curid=14747430 |
Energy elasticity is a term used with reference to the energy intensity of Gross Domestic Product. It is ""the percentage change in energy consumption to achieve one per cent change in national GDP"". This term has been used when describing sustainable growth in the developing world, while being aware of the need to ma... | https://en.wikipedia.org/wiki?curid=14750034 |
Community indifference curve A community indifference curve is an illustration of different combinations of commodity quantities that would bring a whole community the same level of utility. The model can be used to describe any community, such as a town or an entire nation. In a community indifference curve, the indif... | https://en.wikipedia.org/wiki?curid=14757039 |
Rabin fairness is a fairness model invented by Matthew Rabin. It goes beyond the standard assumptions in modeling behavior, rationality and self-interest, to incorporate fairness. Rabin's fairness model incorporates findings from the fields of economics and psychology fields to provide an alternative utility model. Fai... | https://en.wikipedia.org/wiki?curid=14758602 |
Rabin fairness Rabin also used the fairness model as a utility function to determine social welfare. Rabin used a game theory "Grabbing Game" which posited that there are two people shopping, with two cans of soup left. The payoffs for each are given as follows, where player i's payoffs are on the left of each pair and... | https://en.wikipedia.org/wiki?curid=14758602 |
Rabin fairness He and his colleagues ran three experiments to find how participants reacted when one member of their group violated the equality rule, which states that all group members will coordinate to equally and fairly contribute to the efficient provision of public goods. Their findings demonstrated that the par... | https://en.wikipedia.org/wiki?curid=14758602 |
Merchant category code A Merchant Category Code (MCC) is a four-digit number listed in ISO 18245 for retail financial services. An MCC is used to classify a business by the types of goods or services it provides. MCCs are assigned either by merchant type (e.g., one for hotels, one for office supply stores, etc.) or by ... | https://en.wikipedia.org/wiki?curid=14787205 |
Clipstone Colliery was a coal mine situated near the village of the same name on the edge of an area of Nottinghamshire known as “The Dukeries” because of the number of stately homes in the area. The colliery was owned by the Bolsover Colliery Company and passed to the National Coal Board in 1947. The headstocks and po... | https://en.wikipedia.org/wiki?curid=14822794 |
Jason Potts is a New Zealand-born academic economist. His work focuses on the theoretical development of evolutionary economics using complex systems theory. His current research is on the role of creative industries in innovation-driven economic growth and development. He is also a leading researcher on the economics ... | https://en.wikipedia.org/wiki?curid=14825148 |
Japan and the World Economy is a peer-reviewed academic journal that was established in 1989 and is edited by Shin-Ichi Fukuda. It contains articles about Japanese economy, including finance, managerial sciences, agriculture, and economic ties with other countries. | https://en.wikipedia.org/wiki?curid=14841351 |
Canadian import duties is the amount of tax or tariff paid while importing goods into Canada. The Canada Border Services Agency collects the tariff on all imported goods. According to the North American Free Trade Agreement, there is no duty to be paid if the goods are for personal use and "the goods are marked as made... | https://en.wikipedia.org/wiki?curid=14859303 |
The Paradox of Choice – Why More Is Less is a 2004 book by American psychologist Barry Schwartz. In the book, Schwartz argues that eliminating consumer choices can greatly reduce anxiety for shoppers. Schwartz assembles his argument from a variety of fields of modern psychology that study how happiness is affected by s... | https://en.wikipedia.org/wiki?curid=14872453 |
The Paradox of Choice Ultimately, Schwartz agrees with Simon's conclusion, that "satisficing" is, in fact, the "maximizing" strategy. Schwartz integrates various psychological models for happiness showing how the problem of choice can be addressed by different strategies. What is important to note is that each of these... | https://en.wikipedia.org/wiki?curid=14872453 |
Metra potential method The metra potential method (MPM) (Méthode des potentiels Métra) was developed by French researcher Bernard Roy in 1958 for the construction of the French paquebot France and of the first French nuclear power plant. MPM is a means of describing organizing and planning a project. It is an equivalen... | https://en.wikipedia.org/wiki?curid=14882779 |
Tag-along right (TAR) is a legal concept in corporate law. Under the concept, if the majority shareholder(s) of an entity sells their stake, the remaining minority shareholders have the right to join the deal and to sell their shares at the same terms and conditions as the majority shareholder(s), and the new owner mus... | https://en.wikipedia.org/wiki?curid=14884926 |
Economy and Society Economy and Society: An Outline of Interpretive Sociology (1921; ; or simply Economy and Society) is a book by political economist and sociologist Max Weber, published posthumously in Germany by his wife Marianne. Alongside "The Protestant Ethic and the Spirit of Capitalism" (1905), it is considered... | https://en.wikipedia.org/wiki?curid=14901563 |
Economy and Society Only in this way is it possible to assess the causal significance of irrational factors as accounting for the deviation of this type. The construction of a purely rational course of action in such cases serves the sociologist as a type (ideal type) which has the merit of clear understandability and ... | https://en.wikipedia.org/wiki?curid=14901563 |
Yield gap The yield gap or yield ratio is the ratio of the dividend yield of an equity and the yield of a long-term government bond. Typically equities have a higher yield (as a percentage of the market price of the equity) thus reflecting the higher risk of holding an equity. formula_1 The purpose of calculating the y... | https://en.wikipedia.org/wiki?curid=14903178 |
Yahoo! Finance is a media property that is part of Yahoo!'s network. It provides financial news, data and commentary including stock quotes, press releases, financial reports, and original content. It also offers some online tools for personal finance management. In addition to posting partner content from a wide range... | https://en.wikipedia.org/wiki?curid=14904044 |
Residual claimant The residual claimant refers to the economic agent who has the sole remaining claim on an organization's net cash flows, i.e. after the deduction of precedent agents' claims, and therefore also bears the residual risk. Residual risk is defined in this context as the risk associated with differences be... | https://en.wikipedia.org/wiki?curid=14960174 |
Direct-to-consumer Direct-to-consumer | https://en.wikipedia.org/wiki?curid=14962742 |
Mortgage yield In finance, mortgage yield is a measure of yield of mortgage-backed bonds. It is also known as cash flow yield. The mortgage yield, or cash flow yield, of a mortgage-backed bond is the monthly compounded discount rate at which net present value of all future cash flows from the bond will be equal to the ... | https://en.wikipedia.org/wiki?curid=15000577 |
Icarus paradox The is a neologism coined by Danny Miller in his 1990 book by the same name. The term refers to the phenomenon of businesses failing abruptly after a period of apparent success, where this failure is brought about by the very elements that led to their initial success. It alludes to Icarus of Greek mytho... | https://en.wikipedia.org/wiki?curid=15033749 |
Icarus paradox This happens as managers make unwise decisions based on past strategies that they mistakenly believe will always be relevant and companies exploit as much as possible the strategies that contributed to their success, centralise their focus on the products that launched their brand and become blinded to c... | https://en.wikipedia.org/wiki?curid=15033749 |
Icarus paradox Firms tend to invest too much and too long in activities that are elementally inoperative in its design or concept. Some examples are Merrill Lynch, RBS, AIG, Citibank, Lehman Brothers and Fresh & Easy. Most large capital investment projects come in late and over budget, never living up to expectations. ... | https://en.wikipedia.org/wiki?curid=15033749 |
Icarus paradox Research into human cognition has traced this over-optimism to many sources. Humans have a native tendency to exaggerate their own talents, so many executives believe they are above average in their endowment of positive traits and abilities. This is amplified by the tendency to misperceive causes of cer... | https://en.wikipedia.org/wiki?curid=15033749 |
Icarus paradox This process has some serious pitfalls, however. The initial plan tends to accentuate the positive because as a proposal, it was designed to make the case for the project as compelling as possible, thus skewing the subsequent analysis towards over-optimism. Anchoring can be especially pernicious when it ... | https://en.wikipedia.org/wiki?curid=15033749 |
Icarus paradox When a company identifies a rapidly growing market well suited to its products and capabilities, it often rushes to gain a beachhead in it, investing heavily in production capacity and marketing. However, attractive "pro forma" forecasts of financial results that motivate this expansion rarely account fo... | https://en.wikipedia.org/wiki?curid=15033749 |
Icarus paradox Other employees shun the bearer of bad news. Suppressing pessimistic opinions while rewarding optimistic ones will cripple an organisation's ability to think critically and analyse objectively. The Machiavelli factor is defined by Flybjerg in his review of Lovallo and Kahneman's work in 2003 as the delib... | https://en.wikipedia.org/wiki?curid=15033749 |
Icarus paradox Over time, forecasters should have learnt to avoid being over-optimistic and accuracy of cost and demand estimates should improve. His data, however, shows that this has not happened. After testing his data for technical, economic, psychological and political factors that may induce bias in forecasting, ... | https://en.wikipedia.org/wiki?curid=15033749 |
Icarus paradox Initial success reinforces management's belief that they should fortify their success formula. With time and repetition, people stop considering alternatives to their commitments, and take them for granted. When the environment shifts, a gap can grow between what the market demands and what the firm does... | https://en.wikipedia.org/wiki?curid=15033749 |
Icarus paradox However, as the managers’ attention is drawn consistently to particular details and into certain frameworks, they eventually begin to believe that these are the only things that work and matter. Essentially, frames can constrict managers’ peripheral vision, blinding them to novel opportunities and threat... | https://en.wikipedia.org/wiki?curid=15033749 |
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