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Keyword: efficiency

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.

Keywords: checkout lanes, checkout stations, comparative advantage, efficiency, fairness, free trade, waiting

Fast Labor (9/2/2005)

Extreme division of labor into simple repetitive tasks allows the fast-food industry to increase throughput while lowering labor cost by tapping unskilled teenage and marginal workers.

Keywords: Adam Smith, division of labor, efficiency, fast food, interchangeable worker, labor, labor market, labor-saving, pin factory, standardization, teenage

Flexible Pricing (2/26/2005)

The Internet has made it possible to replace fixed pricing with flexible pricing based on changing supply and demand conditions. Spot pricing will lead to a more efficient market with winners and losers.

Keywords: auctions, commodities, efficiency, exchanges, fixed pricing, flexible pricing, price discrimination, Spot pricing

Marginal Revenue of Perfect Price Discriminators (11/17/2007)

The marginal revenue of perfect price discriminators is equal to price.

Keywords: economic surplus, efficiency, marginal revenue, marginal willingness to pay, MR, MWP, P, perfect price discrimination, price, profit maximization, reservation price, total willingness to pay, TWP

Marginal Revenue under Single-pricing - Price Searchers vs Price Takers (11/17/2007)

Single pricing leads to P = MR under price taking or P > MR under price searching.

Keywords: economic surplus, efficiency, price searching, price taking, profit, reservation price, single pricing, single-pricing

The Market Role of Information (7/7/2006)

Information or the lack of it may make or break a market.

Keywords: adverse selection, Asymmetric information, auction, efficiency, free trials, insurance, market signaling, quality, risk, warranty

Your Technology or Your Market Access (2/8/2007)

In a buyer's market with many potential sellers, China exacts technology transfers as a condition of entry into its lucrative mass market.

Keywords: Airbus, Boeing, buyer's market, chip fabrication, efficiency, licensing, market access, Motorola, offsets, seller's market, technology transfer, trade distorting