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Along with an earlier article, “The Nature of the Firm”, "The Problem of Social Cost" was cited by the Nobel committee when Coase was awarded the Nobel Memorial Prize in Economic Sciences in 1991. The article is foundational to the field of law and economics, and has become the most frequently cited work in all of legal scholarship. [1]
In the context of information security, social engineering is the psychological manipulation of people into performing actions or divulging confidential information. A type of confidence trick for the purpose of information gathering, fraud, or system access, it differs from a traditional "con" in the sense that it is often one of the many ...
Social engineering is a term which has been used to mean top-down efforts to influence particular attitudes and social behaviors on a large scale—most often undertaken by governments, but also carried out by mass media, academia or private groups—in order to produce desired characteristics in a target population.
Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law. The field emerged in the United States during the early 1960s, primarily from the work of scholars from the Chicago school of economics such as Aaron Director , George Stigler , and Ronald Coase .
Economic law is a set of legal rules for regulating economic activity. [ 1 ] [ 2 ] Economics can be defined as "a social science concerned with the production, distribution, and consumption of goods and services."
Economists led the pack and economic development studies were for a time one of the most glamorous areas of applied economics. [4] Legal scholars from leading American law schools wrote many articles discussing the contribution of law reform to economic development. This was called the law and development movement.
Arrow's theorem assumes as background that any non-degenerate social choice rule will satisfy: [15]. Unrestricted domain – the social choice function is a total function over the domain of all possible orderings of outcomes, not just a partial function.
The social market economy (SOME; German: soziale Marktwirtschaft), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, [1] is a socioeconomic model combining a free-market capitalist economic system alongside social policies and enough regulation to establish both fair competition within the market and generally a welfare state.