Search results
Results from the WOW.Com Content Network
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 ...
In some cases, a proposed use might be the highest and best use but for some cost that changes the net economics. An example might be an industrially-used site that can now be used legally for high-rise residential buildings, but would cost so much to clean up (remediate) that the value as currently used is higher.
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
For example, in application, applying the best estimate (defined as the mean) of investment returns to discount a set of cash flows will not necessarily give the same result as assessing the best estimate to the discounted cash flows. A stochastic model would be able to assess this latter quantity with simulations.
In econometrics, as in statistics in general, it is presupposed that the quantities being analyzed can be treated as random variables.An econometric model then is a set of joint probability distributions to which the true joint probability distribution of the variables under study is supposed to belong.
An economic impact analysis attempts to measure or estimate the change in economic activity in a specified region, caused by a specific business, organization, policy, program, project, activity, or other economic event. [2] The study region can be a neighborhood, town, city, county, statistical area, state, country, continent, or the entire globe.
Consensus estimate is a technique for designing truthful mechanisms in a prior-free mechanism design setting. The technique was introduced for digital goods auctions [1] and later extended to more general settings. [2] Suppose there is a digital good that we want to sell to a group of buyers with unknown valuations.
Estimates (e.g. on duration, costs or quality) are inherently very vague at the beginning of a project; Estimates and project plans based on estimations need to be redone on a regular basis; Uncertainties can be built into estimates and should be visible in project plans; Assumptions that later prove to be mistakes are major factors in uncertainty