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A researcher found a relationship between the crime rate in a large city and the phases of the moon and incorrectly concluded that the gravitational pull of the moon caused this crime behavior. This researcher's error is due to his failure to distinguish between __________ and causation.
Pareto Optimal
A situation where resources are distributed in such a manner that it's not feasible to rearrange them to benefit someone without adversely affecting at least another individual or preference standard.
Initial Endowment
The initial quantity of goods, resources, or wealth that an individual or entity possesses at the start of a period or game.
Pareto Optimal
A distribution of resources from which it is impossible to reallocate in order to make any individual better off without making at least one individual worse off.
Initial Endowment
The initial quantity of assets, goods, or resources that an agent or economy possesses at the start of a period.
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