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Economic order quantity. Economic order quantity ( EOQ ), also known as financial purchase quantity or economic buying quantity, [citation needed] is the order quantity that minimizes the total holding costs and ordering costs in inventory management. It is one of the oldest classical production scheduling models.
All non-cooperative games. In game theory, the Nash equilibrium is the most commonly-used solution concept for non-cooperative games. A Nash equilibrium is a situation where no player could gain by changing their own strategy (holding all other players' strategies fixed). [ 1]
Ultimatum game. Extensive form representation of a two proposal ultimatum game. Player 1 can offer a fair (F) or unfair (U) proposal; player 2 can accept (A) or reject (R). The ultimatum game is a game that has become a popular instrument of economic experiments. An early description is by Nobel laureate John Harsanyi in 1961. [ 1]
Newsvendor model. The newsvendor (or newsboy or single-period[ 1] or salvageable) model is a mathematical model in operations management and applied economics used to determine optimal inventory levels. It is (typically) characterized by fixed prices and uncertain demand for a perishable product. If the inventory level is , each unit of demand ...
MOQ. Look up MOQ, moq, or -moq in Wiktionary, the free dictionary. MOQ, Moq, Moq., moq, or MoQ may refer to: Pirsig's metaphysics of quality (MOQ) – a theory of reality. Alfred Moquin-Tandon – a botanist whose author abbreviation is Moq. Morondava Airport – a Madagascan airport with the IATA code MOQ. Mor language (Papuan) – a human ...
Gary Stanley Becker ( / ˈbɛkər /; December 2, 1930 – May 3, 2014) was an American economist who received the 1992 Nobel Memorial Prize in Economic Sciences. [ 1] He was a professor of economics and sociology at the University of Chicago, and was a leader of the third generation of the Chicago school of economics. [ 2][ 3] Becker was ...
Social network analysis ( SNA) is the process of investigating social structures through the use of networks and graph theory. [ 1] It characterizes networked structures in terms of nodes (individual actors, people, or things within the network) and the ties, edges, or links (relationships or interactions) that connect them.
Cournot competition. Cournot competition is an economic model used to describe an industry structure in which companies compete on the amount of output they will produce, which they decide on independently of each other and at the same time. It is named after Antoine Augustin Cournot (1801–1877) who was inspired by observing competition in a ...