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An explicit cost is a direct payment made to others in the course of running a business, such as wage, rent and materials, [1] as opposed to implicit costs, where no actual payment is made. [2] It is possible still to underestimate these costs, however: for example, pension contributions and other "perks" must be taken into account when ...
In game theory, cheap talk is communication between players that does not directly affect the payoffs of the game. Providing and receiving information is free. This is in contrast to signalling, in which sending certain messages may be costly for the sender depending on the state of the world.
Social exchange theory is a sociological and psychological theory that studies the social behavior in the interaction of two parties that implement a cost-benefit analysis to determine risks and benefits. The theory also involves economic relationships—the cost-benefit analysis occurs when each party has goods that the other parties value. [1]
Grounded practical theory, metacommunicative model of communication, practical discipline of communication Robert T. Craig (born May 10, 1947) is an American communication theorist from the University of Colorado, Boulder who received his BA in Speech at the University of Wisconsin–Madison , and his MA and PhD in communication from Michigan ...
The mass media are undoubtedly experiencing considerable changes in platform, technology, and economic structure (e.g., crowdfunding, social media) as the digital era continues to shift people toward new media. [1] Traditional financial configurations and business models have been destabilized by this transformation.
In economics, profit is the difference between revenue that an economic entity has received from its outputs and total costs of its inputs, also known as surplus value. [1] It is equal to total revenue minus total cost, including both explicit and implicit costs.
The Ramsey–Cass–Koopmans model, or Ramsey growth model, is a neoclassical model of economic growth based primarily on the work of Frank P. Ramsey in 1928, [1] with significant extensions by David Cass and Tjalling Koopmans in 1965.
Frank Dance's helical model of communication was initially published in his 1967 book Human Communication Theory. [161] [162] [163] It is intended as a response to and an improvement over linear and circular models by stressing the dynamic nature of communication and how it changes the participants. Dance sees the fault of linear models as ...