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Rivalry (economics)
In economics, a good is said to be rivalrous or a rival if its consumption by one consumer prevents simultaneous consumption by other consumers, or if consumption by one party reduces the ability of another party to consume it. A good is considered non-rivalrous or non-rival if, for any level of production, the cost of providing it to a marginal (additional) individual is zero. A good is anti-rivalrous and inclusive if each person benefits more when other people consume it. A good can be placed along a continuum from rivalrous through non-rivalrous to anti-rivalrous. The distinction between rivalrous and non-rivalrous is sometimes referred to as jointness of supply or subtractable or non-subtractable. Economist Paul Samuelson made the distinction between private and public goods in 1954 by introducing the concept of nonrival consumption. Economist Richard Musgrave followed on and added rivalry and excludability as criteria for defining consumption goods in 1959 and 1969. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fish0192 - Flickr - NOAA Photo Library
A fish (: fish or fishes) is an aquatic, anamniotic, gill-bearing vertebrate animal with swimming fins and a hard skull, but lacking limbs with digits. Fish can be grouped into the more basal jawless fish and the more common jawed fish, the latter including all living cartilaginous and bony fish, as well as the extinct placoderms and acanthodians. In a break to the long tradition of grouping all fish into a single class (Pisces), modern phylogenetics views fish as a paraphyletic group. Most fish are cold-blooded, their body temperature varying with the surrounding water, though some large active swimmers like white shark and tuna can hold a higher core temperature. Many fish can communicate acoustically with each other, such as during courtship displays. The study of fish is known as ichthyology. The earliest fish appeared during the Cambrian as small filter feeders; they continued to evolve through the Paleozoic, diversifying into many forms. The earliest fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intellectual Property
Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, and some countries recognize more than others. The best-known types are patents, copyrights, trademarks, and trade secrets. The modern concept of intellectual property developed in England in the 17th and 18th centuries. The term "intellectual property" began to be used in the 19th century, though it was not until the late 20th century that intellectual property became commonplace in most of the world's List of national legal systems, legal systems."property as a common descriptor of the field probably traces to the foundation of the World Intellectual Property Organization (WIPO) by the United Nations." in Mark A. Lemley''Property, Intellectual Property, and Free Riding'', Texas Law Review, 2005, Vol. 83:1031, page 1033, footnote 4. Supporters of intellectual property laws often describe their main purpose as encouragin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rent-seeking
Rent-seeking is the act of growing one's existing wealth by manipulating the social or political environment without creating new wealth. Rent-seeking activities have negative effects on the rest of society. They result in reduced economic efficiency through misallocation of resources, stifled competition, reduced wealth creation, lost government revenue, heightened income inequality, heightened debt levels, risk of growing corruption and cronyism, decreased public trust in institutions, and potential national decline. Successful capture of regulatory agencies (if any) to gain a coercive monopoly can result in advantages for rent-seekers in a market while imposing disadvantages on their uncorrupt competitors. This is one of many possible forms of rent-seeking behavior. Theory The term "rent", in the narrow sense of land rent, was coined by the British 19th-century economist David Ricardo, but rent-seeking only became the subject of durable interest among economists an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Network Effect
In economics, a network effect (also called network externality or demand-side economies of scale) is the phenomenon by which the Value (economics), value or utility a user derives from a Goods, good or Service (economics), service depends on the number of users of compatible products. Network effects are typically positive feedback systems, resulting in users deriving more and more value from a product as more users join the same network. The adoption of a product by an additional user can be broken into two effects: an increase in the value to all other users (''total effect'') and also the enhancement of other non-users' motivation for using the product (''marginal effect''). Network effects can be direct or indirect. Direct network effects arise when a given user's utility increases with the number of other users of the same product or technology, meaning that adoption of a product by different users is complementary. This effect is separate from effects related to price, suc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Metcalfe's Law
Metcalfe's law states that the financial value or influence of a telecommunications network is proportional to the square of the number of connected users of the system (2). The law is named after Robert Metcalfe and was first proposed in 1980, albeit not in terms of users, but rather of "compatible communicating devices" (e.g., fax machines, telephones). It later became associated with users on the Ethernet after a September 1993 ''Forbes'' article by George Gilder. Network effects Metcalfe's law characterizes many of the network effects of communication technologies and networks such as the Internet, social networking and the World Wide Web. Former Chairman of the U.S. Federal Communications Commission Reed Hundt said that this law gives the most understanding to the workings of the present-day Internet. Mathematically, Metcalfe's Law shows that the number of unique possible connections in an n-node connection can be expressed as the triangular number n(n-1)/2, which is a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free-rider Problem
In economics, the free-rider problem is a type of market failure that occurs when those who benefit from resources, public goods and common pool resources do not pay for them or under-pay. Free riders may overuse common pool resources by not paying for them, neither directly through fees or tolls, nor indirectly through taxes. Consequently, the common pool resource may be under-produced, overused, or degraded. Additionally, despite evidence that people tend to be cooperative by nature (a prosocial behaviour), the presence of free-riders has been shown to cause cooperation to deteriorate, perpetuating the free-rider problem. In social science, the free-rider problem is the question of how to limit free riding and its negative effects in these situations, such as the free-rider problem of when property rights are not clearly defined and imposed. The free-rider problem is common with public goods which are non-excludable and non-rivalrous. The non-excludability and non-rivalr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Climate Change Mitigation
Climate change mitigation (or decarbonisation) is action to limit the greenhouse gases in the atmosphere that cause climate change. Climate change mitigation actions include energy conservation, conserving energy and Fossil fuel phase-out, replacing fossil fuels with sustainable energy, clean energy sources. Secondary mitigation strategies include changes to land use and carbon sequestration, removing carbon dioxide (CO2) from the atmosphere. Current climate change mitigation policies are insufficient as they would still result in global warming of about 2.7 °C by 2100, significantly above the 2015 Paris Agreement's goal of limiting global warming to below 2 °C. Solar energy and wind power can replace fossil fuels at the lowest cost compared to other renewable energy options.IPCC (2022Summary for policy makersiClimate Change 2022: Mitigation of Climate Change. Contribution of Working Group III to the Sixth Assessment Report of the Intergovernmental Panel on Climate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Language
A natural language or ordinary language is a language that occurs naturally in a human community by a process of use, repetition, and change. It can take different forms, typically either a spoken language or a sign language. Natural languages are distinguished from constructed and formal languages such as those used to program computers or to study logic. Defining natural language Natural languages include ones that are associated with linguistic prescriptivism or language regulation. ( Nonstandard dialects can be viewed as a wild type in comparison with standard languages.) An official language with a regulating academy such as Standard French, overseen by the , is classified as a natural language (e.g. in the field of natural language processing), as its prescriptive aspects do not make it constructed enough to be a constructed language or controlled enough to be a controlled natural language. Natural language are different from: * artificial and constructed la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free And Open-source Software
Free and open-source software (FOSS) is software available under a license that grants users the right to use, modify, and distribute the software modified or not to everyone free of charge. FOSS is an inclusive umbrella term encompassing free software and open-source software. The rights guaranteed by FOSS originate from the "Four Essential Freedoms" of '' The Free Software Definition'' and the criteria of '' The Open Source Definition''. All FOSS can have publicly available source code, but not all source-available software is FOSS. FOSS is the opposite of proprietary software, which is licensed restrictively or has undisclosed source code. The historical precursor to FOSS was the hobbyist and academic public domain software ecosystem of the 1960s to 1980s. Free and open-source operating systems such as Linux distributions and descendants of BSD are widely used, powering millions of servers, desktops, smartphones, and other devices. Free-software licenses and open-so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steven Weber (professor)
Steven Weber is a retired professor who taught at the School of Information and the Department of Political Science at the University of California, Berkeley. He was also the Director of the Center for Long Term Cybersecurity (CLTC), a Berkeley think tank, for nine years. After studying history and international development at Washington University in St. Louis, he received an M.D. and a Ph.D in political science from Stanford University. He is the author of several books about international politics and economics. He is also the editor of ''Globalization and the European Political Economy'' (Columbia University Press, 2000). Perhaps his most well-known book is ''The Success of Open Source'', on the economy and motivations behind open source and free software Free software, libre software, libreware sometimes known as freedom-respecting software is computer software distributed open-source license, under terms that allow users to run the software for any purpose as well as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Binary Classification
Binary classification is the task of classifying the elements of a set into one of two groups (each called ''class''). Typical binary classification problems include: * Medical testing to determine if a patient has a certain disease or not; * Quality control in industry, deciding whether a specification has been met; * In information retrieval, deciding whether a page should be in the result set of a search or not * In administration, deciding whether someone should be issued with a driving licence or not * In cognition, deciding whether an object is food or not food. When measuring the accuracy of a binary classifier, the simplest way is to count the errors. But in the real world often one of the two classes is more important, so that the number of both of the different types of errors is of interest. For example, in medical testing, detecting a disease when it is not present (a '' false positive'') is considered differently from not detecting a disease when it is present (a '' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marginal Cost
In economics, the marginal cost is the change in the total cost that arises when the quantity produced is increased, i.e. the cost of producing additional quantity. In some contexts, it refers to an increment of one unit of output, and in others it refers to the rate of change of total cost as output is increased by an infinitesimal amount. As Figure 1 shows, the marginal cost is measured in dollars per unit, whereas total cost is in dollars, and the marginal cost is the slope of the total cost, the rate at which it increases with output. Marginal cost is different from average cost, which is the total cost divided by the number of units produced. At each level of production and time period being considered, marginal cost includes all costs that vary with the level of production, whereas costs that do not vary with production are fixed. For example, the marginal cost of producing an automobile will include the costs of labor and parts needed for the additional automobile but not t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
