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The free will theorem states: Given the axioms, if the choice about what measurement to take is not a function of the information accessible to the experimenters (free will assumption), then the results of the measurements cannot be determined by anything previous to the experiments. That is an "outcome open" theorem:
Edgeworth took a step towards the first fundamental theorem in his 'Mathematical Psychics', looking at a pure exchange economy with no production. He included imperfect competition in his analysis. [7] His definition of equilibrium is almost the same as Pareto's later definition of optimality: it is a point such that...
Pages in category "Economics theorems" The following 43 pages are in this category, out of 43 total. ... Efficient envy-free division; Envelope theorem; F.
Welfare economics is a field of economics that applies microeconomic techniques to evaluate the overall well-being (welfare) of a society. [ 1 ] The principles of welfare economics are often used to inform public economics , which focuses on the ways in which government intervention can improve social welfare .
Factor price equalization is an economic theory, by Paul A. Samuelson (1948), which states that the prices of identical factors of production, such as the wage rate or the rent of capital, will be equalized across countries as a result of international trade in commodities. The theorem assumes that there are two goods and two factors of ...
This result was established (with certain assumptions) in an area of study known as general equilibrium theory and is known as the first fundamental theorem of welfare economics. As a result, these results often feature prominently in conservative libertarian justifications of unregulated markets.
This theorem provides mathematical predictions regarding the price of a stock, assuming that there is no arbitrage, that is, assuming that there is no risk-free way to trade profitably. Formally, if arbitrage is impossible, then the theorem predicts that the price of a stock is the discounted value of its future price and dividend:
The problem of free will has been identified in ancient Greek philosophical literature. The notion of compatibilist free will has been attributed to both Aristotle (4th century BCE) and Epictetus (1st century CE): "it was the fact that nothing hindered us from doing or choosing something that made us have control over them".