PhilosophyCollective Intentionality Collective Intentionality Collective intentionality is the power of minds to be jointly directed at objects, matters of fact, states of affairs, goals, or values. Collective…
FinanceAdvantages of the Financial Forecasting Financial forecasting is a process of projecting future financial requirements of a firm. Financial forecasts assist in managing your finances. They are future predictions of…
EconomicsChainstore Paradox Chainstore Paradox The chainstore paradox (or “chain-store paradox”) is a concept that purports to refute standard game theory reasoning. The chain store game is a…
EconomicsAbout Nash Equilibrium About Nash Equilibrium Nash Equilibrium is a concept of game theory where the optimal outcome of a game is one where no player has an…
EconomicsAbout Bayesian Efficiency About Bayesian Efficiency Bayesian efficiency addresses an appropriate economic definition of Pareto efficiency where there is incomplete information. Under Pareto efficiency, an allocation of a…
EconomicsAbout Pareto Efficiency About Pareto Efficiency Pareto efficiency (or Pareto optimality) is a quality of allocations in economics and game theory. If an allocation is Pareto efficient, no…
EconomicsAbout Allocative Efficiency About Allocative Efficiency Allocational efficiency is a characteristic of an efficient market in which capital is allocated in a way that is most beneficial to…
EconomicsAbout Agency Cost About Agency Cost Agency costs are the costs of disagreement between shareholders and business managers, who may not agree on which actions are best for…
FinanceCommon Causes of Business Risk Common Causes of Business Risk A business risk may be defined as the possibility of loss due to some unforeseeable, unpredictable and unfavorable event in…
EconomicsAbout Contract Theory About Contract Theory Contract theory is an economic theory that entails how parties can develop a legal agreement in a situation that involves asymmetric information.…
EconomicsAbout Wage Curve About Wage Curve Wage curve is a curve which represents a relationship between the rate of unemployment (plotted on the X-axis) and the wage rate…
EconomicsReflexivity in Economics Reflexivity in Economics In Economics reflexivity refers to the self-reinforcing effect of market sentiment, whereby rising prices attract buyers whose actions drive prices higher still…