Examlex
A Gini coefficient of 0.1 represents more inequality in income distribution than a Gini coefficient of 0.9.
Dominant Strategy
A dominant strategy is the best course of action for a player no matter what the other players do, in game theory and economic strategy.
Nash Equilibria
A concept in game theory where no player can benefit by changing strategies if others keep their strategies unchanged.
Subsidized Payoffs
Financial benefits provided, often by a government, to support or encourage certain activities or reduce associated costs.
English Auction
A bidding process where the price of the item for sale ascends with each bid, and the highest bid at the auction's close wins.
Q25: Refer to Table 16.4. Suppose the government
Q54: Refer to Figure 19.1. After firms can
Q69: Refer to Figure 16.5. Suppose that instead
Q69: Consider the following game. You pick a
Q74: Moral hazard occurs when buyers and sellers
Q109: Refer to Table 19.1. The tax rate
Q119: Public officials, like voters, often have a
Q138: More than one in four African-Americans lives
Q176: Refer to Figure 2.4. The economy moves
Q279: Related to the Economics in Practice on