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Kelvin John Lancaster (10 December 1924 – 23 July 1999) was an Australian mathematical economist and John Bates Clark professor of economics at Columbia University.He is best known for the development of the Theory of the Second Best with Richard Lipsey. [1]
Demand articulation is a concept developed within the scientific field of innovation studies which serves to explain learning processes about needs for new and emerging technologies. [1] Emerging technologies are technologies in their early phase of development, which have not resulted in concrete products yet. [ 2 ]
A needs chain model is a framework that allows organizations to simultaneously consider the individuals' needs within an organization, and the organization's needs, in order to prioritise resources and identify areas of improvement for the organization. [9] A needs chain model is composed of aligned horizontal and vertical processes.
Delta model (after the Greek letter Delta, standing for transformation and change) is a customer-based approach to strategic management. [ 1 ] [ 2 ] [ 3 ] Compared to a philosophical focus on the characteristics of a product (product economics), the model is based on consumer economics .
Supply chain as connected supply and demand curves. In microeconomics, supply and demand is an economic model of price determination in a market.It postulates that, holding all else equal, the unit price for a particular good or other traded item in a perfectly competitive market, will vary until it settles at the market-clearing price, where the quantity demanded equals the quantity supplied ...
The AIDS model gives an arbitrary second-order approximation to any demand system and has many desirable qualities of demand systems. For instance it satisfies the axioms of order , aggregates over consumers without invoking parallel linear Engel curves , is consistent with budget constraints, and is simple to estimate.
Human Scale Development is basically community development and is "focused and based on the satisfaction of fundamental human needs, on the generation of growing levels of self-reliance, and on the construction of organic articulations of people with nature and technology, of global processes with local activity, of the personal with the social, of planning with autonomy and of civil society ...
The model argues that the O-ring development theory explains why rich countries produce more complicated products, have larger firms and much higher worker productivity than poor countries. [ 2 ] The name is a reference to the 1986 Challenger shuttle disaster , a catastrophe caused by the failure of O-rings .