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Economics of Education is the branch of microeconomics that studies production, consumption, externalities of education, as its market peculiarities and non-market effects.
Questions related to the application of game theory to situations in which actions are taken sequentially.
In economics, a public good is a good that is both non-excludable and non-rivalrous in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availabi…
The relationship between cause and effect.
In signaling games, an informed sender moves first. Their action may "signal" information about the sender's type to an uniformed receiver who then acts based on an updated belief.
Situations in which different consumers pay different prices (or, more precisely, different price-cost margins).
Natural resource economics deals with the supply, demand, and allocation of natural resources.
Capitalism refers to the economic system wherein decisions about production, investment, and exchange are made chiefly by private individuals or corporations, especially as contrasted with collective,…
Prediction of the future events. It is a special case of prediction, in the context of time series.