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In microeconomics, the Bertrand–Edgeworth model of price-setting oligopoly looks at what happens when there is a homogeneous product (i.e. consumers want to buy from the cheapest seller) where there is a limit to the output of firms which are willing and able to sell at a particular price. This differs from the Bertrand competition model ...
The Edgeworth model shows that the oligopoly price fluctuates between the perfect competition market and the perfect monopoly, and there is no stable equilibrium. [6] Unlike the Bertrand paradox, the situation of both companies charging zero-profit prices is not an equilibrium, since either company can raise its price and generate profits.
Some reasons the Bertrand paradox do not strictly apply: Capacity constraints. Sometimes firms do not have enough capacity to satisfy all demand. This was a point first raised by Francis Edgeworth [5] and gave rise to the Bertrand–Edgeworth model. Integer pricing. Prices higher than MC are ruled out because one firm can undercut another by an ...
Learning theory (education) – Theory that describes how students receive, process, and retain knowledge during learning Constructivism (philosophy of education) – Philosophical viewpoint about the nature of knowledge; theory of knowledge; Radical behaviorism – Term pioneered by B.F. Skinner
Process theories are important in management and software engineering. [3] Process theories are used to explain how decisions are made [4] how software is designed [5] [6] and how software processes are improved. [7] Motivation theories can be classified broadly into two different perspectives: Content and Process theories.
The psychology of learning refers to theories and research on how individuals learn. There are many theories of learning. Some take on a more behaviorist approach which focuses on inputs and reinforcements. [1] [2] [3] Other approaches, such as neuroscience and social cognition, focus more on how the brain's organization and structure influence ...
In psychology, the four stages of competence, or the "conscious competence" learning model, relates to the psychological states involved in the process of progressing from incompetence to competence in a skill. People may have several skills, some unrelated to each other, and each skill will typically be at one of the stages at a given time.
Ron Sun proposed a dual-process model of learning (both implicit learning and explicit learning). The model (named CLARION) re-interpreted voluminous behavioral data in psychological studies of implicit learning and skill acquisition in general. The resulting theory is two-level and interactive, based on the idea of the interaction of one-shot ...