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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.
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.
In evolutionary biology, an evolutionary tradeoff is a situation in which evolution cannot advance one part of a biological system without distressing another part of it. In this context, tradeoffs refer to the process through which a trait increases in fitness at the expense of decreased fitness in another trait.
One way of resolving the trade-off is to use mixture models and ensemble learning. [14] [15] For example, boosting combines many "weak" (high bias) models in an ensemble that has lower bias than the individual models, while bagging combines "strong" learners in a way that reduces their variance.
In the diagram, the long-run Phillips curve is the vertical red line. The NAIRU theory says that when unemployment is at the rate defined by this line, inflation will be stable. However, in the short-run policymakers will face an inflation-unemployment rate trade-off marked by the "Initial Short-Run Phillips Curve" in the graph.
The existence of these trade-offs has been clearly demonstrated in human, botanical and insect species. For example, an analysis of global gene expression in the fruit fly, Drosophila melanogaster, revealed 34 genes whose expression coincided with the genetic trade-off between larval survival and adult size. The joint expression of these ...
The effect was largest in product categories more popular among low-income consumers, such as apparel and consumer electronics. ... The post Cutting Off Trade Will Make the U.S. Poorer and China ...
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 ...