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In economics a trade-off is expressed in terms of the opportunity cost of a particular choice, which is the loss of the most preferred alternative given up. [2] A tradeoff, then, involves a sacrifice that must be made to obtain a certain product, service, or experience, rather than others that could be made or obtained using the same required resources.
Examples of tradeoffs can also be found in studies involving human subjects. A tradeoff can be seen between growth and immune function in human populations in which energy is a limiting factor. A study conducted on rural Bolivia found that children experiencing an elevated immune response had smaller gains in height than those with a normal ...
Researchers in political economy have viewed the trade-off between military and consumer spending as a useful predictor of election success. [1] In this example, a nation has to choose between two options when spending its finite resources. It may buy either guns (invest in defense/military) or butter (invest in production of goods), or a ...
Trade-offs: Keeping a 21-year-old car, putting off housing repairs, skipping activities with his two children. Keith Kruchten had been “incredibly hopeful” that Biden’s forgiveness plan ...
The Williamson tradeoff model is a theoretical model in the economics of industrial organization which emphasizes the tradeoff associated with horizontal mergers between gains resulting from lower costs of production and the losses associated with higher prices due to greater degree of monopoly power.
On the other hand, a fourth type of generating a small sample of solutions is included in: [71] [72] An example of the interactive method utilizing trade-off information is the Zionts-Wallenius method, [73] where the decision maker is shown several objective trade-offs at each iteration, and (s)he is expected to say whether (s)he likes ...
The empirical relevance of the trade-off theory has often been questioned. Miller for example compared this balancing as akin to the balance between horse and rabbit content in a stew of one horse and one rabbit. [4] Taxes are large and they are sure, while bankruptcy is rare and, according to Miller, it has low dead-weight costs.
A space–time trade off can be applied to the problem of data storage. If data is stored uncompressed, it takes more space but access takes less time than if the data were stored compressed (since compressing the data reduces the amount of space it takes, but it takes time to run the decompression algorithm). Depending on the particular ...