Keyword: comparative advantage
Efficient but not Fair? (1/16/2006)
Efficiency may conflict with fairness because it is often difficult to re-distribute the gain from greater efficiency.
Gaining Through Comparative Advantage - recording transcript (1/16/2012)
Partial or complete specialization according to comparative advantage is a win-win strategy to increase total output, even though one party might enjoy absolute advantage over another party.
Gaining from Comparative Advantage (8/9/2011)
Production through partial or complete specialization can increase total output and with trade total consumption can also be increased
Healthcare Tourism (3/7/2007)
Lower-pay certified doctors, duly accredited facilities, and 5-star facilities have contributed to the comparative advantage of overseas hospitals in non-emergency big-budget surgeries for international patients.
Niche Specialization (1/30/2007)
Niche comparative advantage in location proximity and fast response time could overcome the disadvantage of high wages in the garment industry.
No Chicken Feet! (1/3/2013)
Chicken feet, long considered a waste product in the US, have become a profit center for the high-volume low-profit US chicken industry in the China export market. But this export trade is not exempted from political whims.
Transaction Costs and Market Structure (2/2/2000)
The ubiquitous existence of transactions costs in the real world determines both the institutional structure within which prices are set and the level of prices.
Who Has Comparative Advantage? (11/2/2011)
Comparative advantage in a two-goods, two-workers economy can be identified easily by comparing the relative slopes of their linear production functions.
Who Has Comparative Advantage? - recording transcript (1/16/2012)
The different relative slopes of the production functions graphically illustrate the different relative costs of producing grapes and nuts between the two workers.