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Economic efficiency |
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Economic efficiencyThe extent to which a given set of resources is being allocated across uses or activities in a manner that maximizes whatever value they are intended to produce, such as output, market value, or utility. Contrasts with engineering efficiency, which focuses within a single activity on the output it produces per unit input.Similar MatchesAllocative efficiencyAllocative efficiencyRefers to whether or not an allocation is efficient. A change from an allocation that is not efficient to one that is may be termed an "increase" in allocative efficiency. Pricing efficiencyPricing efficiencyAlso called external efficiency; a market characteristic that prices at all times fully reflect all available information that is relevant to the valuation of securities. X-efficiencyX-efficiencyThe ability of a firm to get maximum output from its inputs. Failure to do so, called X-inefficiency or technical inefficiency, may be due to lack of incentives provided by competition. Improvement in X-efficiency is one hypothesized source of gain from trade. Term is due to Leibenstein (1966). EfficiencyEfficiencyThe degree and speed with which a market accurately incorporates information into prices. Strong form efficiencyStrong form efficiencyA form of pricing efficiency, that posits that the price of a security reflects all information, whether or not it is publicly available. Related: Weak-form efficiency, semi-strong form efficiency. Further SuggestionsCapital market efficiencySemistrong form efficiency Technical inefficiency Allocational efficiency Informational efficiency Efficiency Informational efficiency Riegle Neal Interstate Banking and Branching Efficiency Act of 1994 Engineering efficiency Efficiency locus Marginal efficiency of capital |
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