Zero sum game


 

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Zero sum game

A type of game wherein one player can gain only at the expense of another player.



Zero sum game

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Homogeneous of degree zero

Homogeneous of degree zero

The property of a function that, if you scale all arguments by the same proportion, the value of the function does not change. See homogeneous of degree X. In the H-O Model, CRTS production functions imply that marginal products have this property, which is critical for FPE.


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A portfolio of zero net value established by buying and shorting component securities, usually in the context of an arbitrage strategy.


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A situation in which profit in an industry is zero, usually as a result of free entry and exit. It may, if firms are not identical, refer only to the marginal firm. And it always means zero excess profit, not that all returns to capital invested in the industry are zero.


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A checking account in which zero balance is maintained by transfers of funds from a master account in an amount only large enough to cover checks presented.


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The building of a subdivision with each house built on a side boundary line. This gives more usable yard space on narrow lots. An easement for maintenance is given over a portion of the lot adjoining each house.


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