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4
votes
0answers
27 views

Great “constants” of economics

Question What are the great "constants" of economics? Background In his Structural Slumps (Chapter 3, p.20), Phelps refers to the great "constants" of economics. He explains that the natural ...
3
votes
1answer
20 views

Best terminology for “inverse” preferences

This might be related to : Symmetric and asymmetric preferences. In your experience, what is the best terminology to denote a pair of preference relations $(R,R')$ over some set of alternatives $A$ ...
3
votes
0answers
32 views

Terminology and formalization for “anonymous” game forms

I have an intuitive notion of what an "anonymous" (extensive) game form $\Gamma$ is. In my mind an "anonymous" game is a game in which the players' identity does not matter. This includes the (again ...
2
votes
0answers
40 views

A term for utility functions based on the max operator

What is a standard term for utility functions of the type: $$ u(x_1,\dots,x_m) = \max(\frac{x_1}{w_1},\dots,\frac{x_m}{w_m}) $$ where $x_i$ is the amount of commodity type $i$, and $w_i$ is a ...
3
votes
1answer
116 views

“Competitive equilibrium” vs. “General equilibrium”

What is the difference between the term "competitive equilibrium" and the term "general equilibrium"? Here in econ.SE, they are two different tags, so there is probably a difference between them, but ...
3
votes
2answers
51 views

What is the difference between a Start-Up and a small company which is not a Start-Up?

What exactly makes a small and youg company a "Start-Up", among other small and young companies which are not necessarly start-ups?
5
votes
1answer
41 views

What term/theory describes more efficient utilization of a resource?

I may be asking the wrong question here, but I wonder if there is a term/theory that describes/studies the evolution of an economy that continually improves the utilization and allocation of certain ...
3
votes
3answers
60 views

What does 'intelligent money' mean?

Is 'intelligent money' or 'smart money' an economic term, and if yes, what does it refer to?
3
votes
2answers
81 views

Suitable terminology for the inverse elasticity?

In many microeconomic applications (e.g. monopoly price-setting) the inverse elasticity appears. Explaining such relations to laymen is often awkward because inverse proportionality is not as ...
2
votes
3answers
325 views

competitive equilibrium, Walrasian equilibrium, Walrasian auction

There are several sellers holding some indivisible goods, and several potential buyers with different valuations for these goods. I need to calculate the Walrasian equilibrium in this scenario, but ...
5
votes
1answer
62 views

Is there a name for this family of games (Binomial games?)?

I'm wondering if there's a name for a $n$-player symmetric game, such that the payoff for player $i$ playing strategy $j$ only depends on the number of other players which played $j$. Such family of ...
6
votes
2answers
135 views

Problem with defining liquidity

I have heard multiple times that a consistent definition of liquidity does not exist. The two wikipedia articles describing liquidity (Market liquidity and accounting liquidity) lack a discussion of ...