|
|
Efficiency |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
EfficiencySee economic efficiency.EfficiencyThe degree and speed with which a market accurately incorporates information into prices.Efficiency Similar MatchesEconomic 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. Allocative 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. 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). Allocational efficiencyAllocational efficiencyThe effectiveness with which a market channels capital toward its most productive uses. Riegle Neal Interstate Banking and Branching Efficiency Act of 1994Riegle Neal Interstate Banking and Branching Efficiency Act of 1994Law permitting interstate banking in the US Further SuggestionsStrong form efficiencyTechnical inefficiency Engineering efficiency Marginal efficiency of capital Informational efficiency Efficiency locus Capital market efficiency Pricing efficiency Semistrong form efficiency Informational efficiency |
|
|
|