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Intra-household Bargaining
Intra-household bargaining refers to negotiations that occur between members of a household in order to arrive at decisions regarding the household unit, like whether to spend or save or whether to study or work. Bargaining is traditionally defined in economic terms as the negotiating conditions of a purchase or contract and is sometimes used in place of direct monetary exchange. In its simplest definition, ‘bargaining’ is a socio-economic phenomenon involving two parties, who can cooperate towards the creation of a commonly desirable surplus, over whose distribution the parties are in conflict. Bargaining process within a family is one of the important aspects of family economics. Bargaining also plays a role in the functioning and decision making of households, where agreements and decisions do not often have direct monetary values and affect various members of the household. Theoretical perspectives Common preference models These models consider the household as a single ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Negotiation
Negotiation is a dialogue between two or more parties to resolve points of difference, gain an advantage for an individual or Collective bargaining, collective, or craft outcomes to satisfy various interests. The parties aspire to agree on matters of The Impact of Religion on International Negotiations, mutual interest. The agreement can be beneficial for all or some of the parties involved. The negotiators should establish their own needs and wants while also seeking to understand the wants and needs of others involved to increase their chances of closing deals, avoiding conflicts, forming relationships with other parties, or maximizing mutual gains. Distributive negotiations, or compromises, are conducted by putting forward a position and making concessions to achieve an agreement. The degree to which the negotiating parties Trust (social science), trust each other to implement the negotiated solution is a major factor in determining the success of a negotiation. People neg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conflict Of Interest
A conflict of interest (COI) is a situation in which a person or organization is involved in multiple wikt:interest#Noun, interests, financial or otherwise, and serving one interest could involve working against another. Typically, this relates to situations in which the personal interest of an individual or organization might adversely affect a duty owed to decision-making, make decisions for the benefit of a third party. An "interest" is a commitment, obligation, duty or goal associated with a specific social role or practice. By definition, a "conflict of interest" occurs if, within a particular decision-making context, an individual is subject to two coexisting interests that are in direct conflict with each other ("competing interests"). This is important because under these circumstances, the decision-making process can be disrupted or compromised, affecting the integrity or reliability of the outcomes. Typically, a conflict of interest arises when an individual occupies tw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Family
Family (from ) is a Social group, group of people related either by consanguinity (by recognized birth) or Affinity (law), affinity (by marriage or other relationship). It forms the basis for social order. Ideally, families offer predictability, structure, and safety as members mature and learn to participate in the community. Historically, most human societies use family as the primary purpose of Attachment theory, attachment, nurturance, and socialization. Anthropologists classify most family organizations as Matrifocal family, matrifocal (a mother and her children), patrifocal (a father and his children), wikt:conjugal, conjugal (a married couple with children, also called the nuclear family), avuncular (a man, his sister, and her children), or Extended family, extended (in addition to parents, spouse and children, may include Grandparent, grandparents, Aunt, aunts, Uncle, uncles, or Cousin, cousins). The field of genealogy aims to trace family lineages through history. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parenting
Parenting or child rearing promotes and supports the physical, cognitive, social, emotional, and educational development from infancy to adulthood. Parenting refers to the intricacies of raising a child and not exclusively for a biological relationship. The most common caretakers in parenting are the biological parents of the child in question. However, a caretaker may be an older sibling, step-parent, grandparent, legal guardian, aunt, uncle, other family members, or a family friend. Governments and society may also have a role in child-rearing or upbringing. In many cases, orphaned or abandoned children receive parental care from non-parent or non-blood relations. Others may be adopted, raised in foster care, or placed in an orphanage. Parenting styles vary by historical period, culture, social class, personal preferences, and other social factors. There is not necessarily a single 'correct' parenting style for raising a child, since parenting styles can affect c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inheritance
Inheritance is the practice of receiving private property, titles, debts, entitlements, privileges, rights, and obligations upon the death of an individual. The rules of inheritance differ among societies and have changed over time. Officially bequeathing private property and/or debts can be performed by a testator via will, as attested by a notary or by other lawful means. Terminology In law, an "heir" ( heiress) is a person who is entitled to receive a share of property from a decedent (a person who died), subject to the rules of inheritance in the jurisdiction where the decedent was a citizen, or where the decedent died or owned property at the time of death. The inheritance may be either under the terms of a will or by intestate laws if the deceased had no will. However, the will must comply with the laws of the jurisdiction at the time it was created or it will be declared invalid (for example, some states do not recognise handwritten wills as valid, or only in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumption (economics)
Consumption refers to the use of resources to fulfill present needs and desires. It is seen in contrast to investing, which is spending for acquisition of ''future'' income. Consumption is a major concept in economics and is also studied in many other social sciences. Different schools of economists define consumption differently. According to mainstream economics, mainstream economists, only the final purchase of newly produced Good (economics), goods and Service (economics), services by individuals for immediate use constitutes consumption, while other types of expenditure — in particular, fixed investment, intermediate consumption, and government spending — are placed in separate categories (see consumer choice). Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g., the selection, adoption, use, disposal and recycling of goods and services). E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Production (economics)
Production is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output. Ideally this output (economics), output will be a goods and services, good or service which has value (economics), value and contributes to the utility (economics), utility of individuals. The area of economics that focuses on production is called production theory, and it is closely related to the consumption (or consumer) theory of economics. The production process and output directly result from productively utilising the original inputs (or factors of production). Known as primary producer goods or services, land, labour, and capital are deemed the three fundamental factors of production. These primary inputs are not significantly altered in the output process, nor do they become a whole component in the product. Under classical economics, materials and energy are categorised as secondary factors a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Altruism
Altruism is the concern for the well-being of others, independently of personal benefit or reciprocity. The word ''altruism'' was popularised (and possibly coined) by the French philosopher Auguste Comte in French, as , for an antonym of egoism. He derived it from the Italian , which in turn was derived from Latin , meaning "alterity, other people" or "somebody else". Altruism may be considered a synonym of selflessness, the opposite of self-centeredness. Altruism is an important moral value in many cultures and religions. It can Moral circle expansion, expand beyond care for humans to include other Sentience, sentient beings and future generations. Altruism, as observed in populations of organisms, is when an individual performs an action at a cost to itself (in terms of e.g. pleasure and quality of life, time, probability of survival or reproduction) that benefits, directly or indirectly, another individual, without the expectation of reciprocity or compensation for that ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Unit
In an economy, production, consumption and exchange are carried out by three basic economic units: the firm, the household, and the government. # Firms #: Firms make production decisions. These include what goods to produce, how these goods are to be produced and what prices to charge. They employ the various factors of production and they sell the finished goods to the households for consumption and to the government. # Households #: Households make consumption decisions and own factors of production. They provide firms with factor services in production, and buy finished goods from firms for consumption. # Government #: The government collects taxes from households, buys goods from firms, and distributes those goods to households individually or collectively. It also redistributes purchasing power between households. See also * Agent (economics) In economics, an agent is an actor (more specifically, a decision maker) in a model of some aspect of the economy. Typically, every a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-cooperative Game Theory
In game theory, a non-cooperative game is a game in which there are no external rules or binding agreements that enforce the cooperation of the players. A non-cooperative game is typically used to model a competitive environment. This is stated in various accounts most prominent being John Nash's 1951 paper in the journal ''Annals of Mathematics''. Counterintuitively, non-cooperative game models can be used to model cooperation as well, and vice versa, cooperative game theory can be used to model competition. Some examples of this would be the use of non-cooperative game models in determining the stability and sustainability of cartels and coalitions. The difference between cooperative and non-cooperative game theory According to Nash, the difference between cooperative game theory and non-cooperative game theory is that “(cooperative game) theory is based on an analysis of the interrelationships of the various coalitions which can be formed by the players of the game. Our (no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cooperative Bargaining
Cooperative bargaining is a process in which two people decide how to share a surplus that they can jointly generate. In many cases, the surplus created by the two players can be shared in many ways, forcing the players to negotiate which division of payoffs to choose. Such surplus-sharing problems (also called bargaining problem) are faced by management and labor in the division of a firm's profit, by trade partners in the specification of the terms of trade, and more. The present article focuses on the ''normative'' approach to bargaining. It studies how the surplus ''should'' be shared, by formulating appealing axioms that the solution to a bargaining problem should satisfy. It is useful when both parties are willing to cooperate in implementing the fair solution. Such solutions, particularly the Nash solution, were used to solve concrete economic problems, such as management–labor conflicts, on numerous occasions. An alternative approach to bargaining is the ''positive'' appr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
