Search results
Results from the WOW.Com Content Network
In dynamic efficiency, [2] it is impossible to make one generation better off without making any other generation worse off. It is closely related to the notion of "golden rule of saving". In relation to markets, in industrial economics, a common argument is that business concentrations or monopolies may be able to promote dynamic efficiency. [3]
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: [1] Allocative or Pareto efficiency : any changes made to assist one person would harm another.
Evaluators outline the benefits and cost of the program for comparison. An efficient program has a lower cost-benefit ratio. There are two types of efficiency, namely, static and dynamic. While static efficiency concerns achieving the objectives with least costs, dynamic efficiency concerns continuous improvement. [20]
Efficiency is the often measurable ability to avoid making mistakes or wasting materials, energy, efforts, money, and time while performing a task. In a more general sense, it is the ability to do things well, successfully, and without waste.
Market efficiency cannot be evaluated in a vacuum, but is highly context-dependent and dynamic. Shortly stated, the degree of market efficiency is related to environmental factors characterizing market ecology , such as the number of competitors in the market, the magnitude of profit opportunities available, and the adaptability of the market ...
Static efficiency is efficiency in terms of the refinement of existing products, processes or capabilities. On the contrary, dynamic efficiency takes into account the development of new products, processes, and capabilities. [3] Achieving static efficiency may not be consistent with achieving dynamic efficiency.
Efficiency is a measure of how much of the power source is usefully applied to the amplifier's output. Class A amplifiers are very inefficient, in the range of 10–20% with a max efficiency of 25% for direct coupling of the output. Inductive coupling of the output can raise their efficiency to a maximum of 50%.
Dynamic programming is both a mathematical optimization method and an algorithmic paradigm. The method was developed by Richard Bellman in the 1950s and has found applications in numerous fields, from aerospace engineering to economics .