Homo Economicus

Homo Economicus

male
rational, Economicsmodel, Self-interest, economic man, Underlying principles of microeconomic behavior, economic theories
Homo economicus, or Economic man, is the concept in some economic theories of man as a "rational" and "self-interested" actor.

Bertrand Competition

male
supply and demand, homogeneous, perfect competition, duopoly, Economicsmodel, game theory…economics
Bertrand competition is a model of competition used in economics, named after Joseph Louis François Bertrand (1822-1900). Specifically, it is a m...

Price Specie Flow Mechanism

male
balance of trade, specie, international economics, Economicsmodel, Mercantilist
The Price-specie-Flow Mechanism is a logical mechanism created by David Hume which dispeled the Mercantilist (1700-1776) notion that a nation can...

Lange-Lerner-Taylor Theorem

male
neoclassical economics, joseph stiglitz, pareto efficiency, market economy, Economicsmodel, market socialism
In economic theory, the Lange-Lerner-Taylor theorem states that an economy in which all production is performed by the state, but in which there is...