Policies for which the desired outcomes are a Nash equilibrium, so that once implemented private economic actors will not undo […]

The study of how people interact with each other and with their natural surroundings in providing their livelihoods, and how […]

The advantages that firms may enjoy when they are located close to other firms in the same or related industries. […]

The cost advantages obtained by a business when buying an item in bulk. The price of an item usually decreases […]

Cost savings that occur when two or more products are produced jointly by a single firm, rather being produced in […]

The reduction of costs that accrue as more copies of an item are produced. This is often achieved by utilizing […]

The reduction of costs that accrue as a firm specializes upon a collection of related offerings. This is often achieved […]

A software process whereby data to be entered into a marketing database is checked for logic before it goes into […]

This is calculated by taking the before-tax profit rate, subtracting the after-tax profit rate, and dividing the result by the […]

The payment an employer makes that is higher than an employee’s reservation wage, so as to motivate the employee to […]