Search results
Results from the WOW.Com Content Network
According to Jacqueline Friedland's "Estimating Unpaid Claims Using Basic Techniques," there are seven steps to apply the chain-ladder technique: Compile claims data in a development triangle; Calculate age-to-age factors; Calculate averages of the age-to-age factors; Select claim development factors; Select tail factor
In macroeconomics, the triangle model employed by new Keynesian economics is a model of inflation derived from the Phillips Curve and given its name by Robert J. Gordon. The model views inflation as having three root causes: built-in inflation , demand-pull inflation , and cost-push inflation . [ 1 ]
In developmental economics, the Poverty-Growth-Inequality Triangle (also called the Growth-Inequality-Poverty Triangle or GIP Triangle) refers to the idea that a country's change in poverty can be fully determined by its change in income growth and income inequality. According to the model, a development strategy must then also be based on ...
He was the first to claim optimality under his own criterion or to support the claim by convincing arguments. [ citation needed ] He defines equilibrium more abstractly than Edgeworth as a state which would maintain itself indefinitely in the absence of external pressures [ 11 ] and shows that in an exchange economy it is the point at which a ...
Thermoeconomics is based on the proposition that the role of energy in biological evolution should be defined and understood not through the second law of thermodynamics but in terms of such economic criteria as productivity, efficiency, and especially the costs and benefits (or profitability) of the various mechanisms for capturing and utilizing available energy to build biomass and do work.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Economic Recessions in the U.S. Recessions are a normal part of the business cycle. There are periods of economic growth and periods of economic slowdown and it’s all part of the same cycle.
Understanding the differences between the R* theory and its major alternative the CSR triangle theory is a major goal in community ecology for many years. [6] [7] Unlike the R* theory, the CSR theory predicts that competitive ability is determined by relative growth rate and other size related traits.