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Efficiency locus |
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Efficiency locusThe set of efficient allocations in an Edgeworth production box. It is usually a curve, similar to a contract curve, and in fact is sometimes called that.Similar MatchesInformational efficiencyInformational efficiencyThe speed and accuracy with which prices reflect new information. EfficiencyEfficiencySee economic efficiency. Economic efficiencyEconomic 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. 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). Semistrong form efficiencySemistrong form efficiencyA form of pricing efficiency that profits the price of a security fully reflects all public information (including, but not limited to, historical price and trading patterns). Compare weak-form efficiency and strong-form efficiency. Further SuggestionsCapital market efficiencyEngineering efficiency Strong form efficiency Allocational efficiency Informational efficiency Pricing efficiency Efficiency Marginal efficiency of capital Technical inefficiency Riegle Neal Interstate Banking and Branching Efficiency Act of 1994 Allocative efficiency |
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