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Topic: Efficiency (economics)

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	Economics Abstracts at The Idea Channel (Site not responding. Last check: 2007-10-12)
		Civil societies and economic rights are intertwined and the extent to which the state is involved in these is of vital importance to classical liberalism.
		Economics has developed into the most encompassing of the social sciences, with great breadth both of topics to study and analytic techniques in conducting the study.
		Economic policies are not formulated and economic institutions are not established and modified with widely manifested sophistication.
	ideachannel.com /EconomicsAbstracts.htm (4836 words)

	Tutor2u - Economic Efficiency
		Efficiency is one of the most important concepts to use in you're A Level Economics course.
		Static efficiency exists at a point in time and focuses on how much output can be produced now from a given stock of resources and whether producers are charging a price to consumers that fairly reflects the cost of the factors of production used to produce a good or a service.
		Allocative efficiency is achieved when the value consumers place on a good or service (reflected in the price they are willing to pay) equals the cost of the resources used up in production.
	www.tutor2u.net /economics/content/topics/competition/efficiency.htm (711 words)

	Efficiency: A Glossary of Political Economy Terms - Dr. Paul M. Johnson
		Notice that "efficiency" in the economist's sense is an inherently evaluative term, not a matter of mere technical or scientific measurement of objective physical quantities, as the term might be used in an engineering context (as for example, the "efficiency" of various kinds of steam engine in transforming heat energy to useful kinetic energy).
		The evidence that any particular economic resource is being used efficiently is, in the end, the fact that no one finds it "worth his while" to bid up the price and pay more in order to divert it to some other use.
		Indeed the entire subdivision of today's economic science known as "welfare economics" specializes primarily in identifying and analyzing the necessary preconditions for voluntary market interactions to generate socially efficient outcomes (and in examining the possibilities for remedies by deliberate state economic policies where those necessary preconditions may not be fully met).
	www.auburn.edu /~johnspm/gloss/efficiency (434 words)

	X-efficiency
		X-efficiency in economics is the effectiveness with which a given set of inputs are used to produce outputs.
		In a market with perfect competition, there will in general be no x-inefficiency because if any firm is less efficient than the others it will not make sufficient profits to stay in business in the long term.
		It doesn't take account of whether the inputs are the best ones to be using, or whether the outputs are the best ones to be producing, which is referred to as allocative efficiency[?].
	www.ebroadcast.com.au /lookup/encyclopedia/x-/X-efficiency.html (216 words)

	Economics
		Topics to which economic analysis may be applied include international trade, the economic aspects of the changing world order, environmental policy, issues of wealth and poverty, and the behavior of government, corporations and financial institutions.
		The goal of economics is not only to better understand the world in which we live, but also to contribute to the development of sound private and public sector policy.
		Economic analysis is also valued in the public sector, which employs many economists as policy analysts and economic forecasters.
	www.dickinson.edu /departments/advising/handbook/econ05.htm (1169 words)

	Efficiency, by Paul Heyne: The Concise Encyclopedia of Economics: Library of Economics and Liberty
		Thus, economic efficiency is measured not by the relationship between the physical quantities of ends and means, but by the relationship between the value of the ends and the value of the means.
		From this perspective a parcel of land is used with maximum economic efficiency when it comes under the control of the party who is willing (which implies able) to pay the largest amount of money to obtain that control.
		Perhaps the importance of private ownership to achieving economic efficiency can be seen most clearly by looking at what happens when we try to work together without an effective system for assigning monetary value to resources.
	www.econlib.org /library/Enc/Efficiency.html (1362 words)

	Efficiency, Scale Economics, and Consolidation in the U.S. Life Insurance Industry - Knowledge@Wharton
		We estimate cost and revenue efficiency for life insurers representing 80 percent of industry assets over the period 1988-1995 using data envelopment analysis (DEA) and decompose cost efficiency into pure technical, scale, and allocative efficiency.
		Firms with higher revenue efficiency are more likely to be acquired than firms with lower revenue efficiency, but we find no relationship between other types of efficiency and the probability that a firm is acquired.
		The overall conclusion is that mergers and acquisitions in the life insurance industry appear to be driven for the most part by economically sound objectives and have had a beneficial effect on efficiency in the industry.
	knowledge.wharton.upenn.edu /paper.cfm?paperid=349 (248 words)

	Undergraduate Classes of Department of Economics - UWM
		The efficiency of medical care, the economics of health insurance and who is served, the role of government in health markets and alternative models of health care delivery.
		Economic applications to public sector decision-making; Analysis of such problems as pricing of public services, efficiency of intergovernmental grants, and whether to invest in large scale public projects.
		An economically unified Western Europe, the transition to capitalism in Eastern Europe and the former Soviet Union, economic reforms in China, the growth of Asian economies.
	www.uwm.edu /Dept/Economics/ugclasses.htm (1155 words)

	Understanding Economic Jargon (Aaron Swartz's Raw Thought) (Site not responding. Last check: 2007-10-12)
		The first result on Google for "economic efficiency" explains "In a market economy, the goals of the rich are given more weight than the goals of the poor" when calculating efficiency, just as I said.
		Economics is especially hard because it is plagued with confounding difficulties, so one way of trying to gain insight is simplifying the theoretical model you work with.
		If an economist points to something that economic theory would suggest, and then finds support for it empirically in data, then you would probably not consider that to be a prediction in the grandiose sense that we would hope for, yet that is a common form for empirical research in economics to take.
	www.aaronsw.com /weblog/understandingeconomics (8817 words)

	Techs & Specs - National Insulation Association, Representing the Mechanical and Industrial Insulation Industry, ...
		All economic consequences beyond the payback are ignored.
		Another commonly used calculation for determining economic feasibility of a project is internal rate of return.
		For a steam efficiency proposal to take advantage of this measure, it should first identify annual savings (or rather, addition to earnings) that the proposal will generate.
	www.insulation.org /articles/article.cfm?ID=IO021103 (1693 words)

	October 2002 \| Books \| iHEA \| International Health Economics Association
		It is based firmly in the discipline of economics and, as such, it fills a gap in the health economics market.
		It separates the efficiency reasons for public involvement (based on notions of 'market failure') from the equity reasons (based on the views of society that health care should be distributed according to the notion of health needs rather than according to ability to pay).
		Beyond the parameters included in economic evaluation techniques such as cost- benefit analysis and cost-effectiveness analysis, the book discusses some key ethical issues that are relevant for decision-makers when setting health care priorities.
	www.healtheconomics.org /books/2002/10 (392 words)

	Electrical: Energy Efficiency - Copper-Wound Transformers
		When a lower cost, 98% efficient unit and a higher cost unit at 99% are compared, that means that the losses are actually cut in half.
		Thus, the continuing costs of transformer losses should be balanced with the savings to be gained from efficient units – savings which go on year after year – quickly paying back the extra first cost.
		Efficiency and temperature rise are related, but separate issues.
	www.copper.org /applications/electrical/energy/copper_wound.html (694 words)

	Papers on Economics Development: Matthew McCartney, "Dynamic versus Static Efficiency", Post-Autistic ...
		The explicit theoretical rationale of liberalisation according to neoclassical economics is to achieve an efficient (static) allocation of resources.
		When we are considering dynamic efficiency good policy cannot be mechanically judged in terms of whether it liberalises the economy, encourages competition or expands the freedom of decision making.
		Beginning with a benchmark of ‘dynamic efficiency’ we have arrived at the theory of the developmental state, this is the archetype of a dynamically efficient economy.
	www.paecon.net /PAEReview/development/McCartney26.htm (3384 words)

	PAMS Appliance Energy Economics Model
		The scheme is similar to that which has been used to evaluate economic feasibility in the policy impact models used for the determination of appliance energy efficiency standards by the Department of Energy under the National Appliance Energy Conservation Act (NAECA).
		The goals of the appliance energy economics modeling is to provide a mechanism for estimating the costs and benefits of a diversity of appliance energy efficiency programs and policies globally.
		The appliance energy efficiency economics model contains various submodels that describe different components of the economics of appliances and their energy use and efficiency.
	eappc48.lbl.gov /econ/ApplModel.html (2466 words)

	energy economics - extraction efficiency and costs, depletion of fossil fuels
		It is designed to provide a better grasp of the basic ‘economics ’, both real-world and in monetary terms.
		With the great onrush of technology, next year’s version of the machine may be better, or a new and more efficient process may have been developed.
		Economic efficiency is also badly distorted by market interferences, caused through government subsidies to industry and to end users.
	www.abelard.org /briefings/energy-economics.asp (2275 words)

	Economics of Health Information on Healthline
		However, the boundaries of health economics also include topics linking individuals with other parts of the economy, topics such as lifestyle choices, the effect of air and water pollution, and the provision of public services such as drinking water and sewage water treatment.
		This is the economist's notion of an efficient outcome.
		The economics of health focuses on real or perceived differences between the economically idealized setting for efficiency and the setting for decisions about health.
	www.healthline.com /galecontent/economics-of-health (717 words)

	DYNAMIC AND STOCHASTIC EFFICIENCY ANALYSIS
		This book extends the dynamic and stochastic analysis of economic efficiency by using the recent techniques of data envelopment analysis.
		New results and applications of these techniques in numerous areas of economics, finance and management are provided, including treatment of private sector industries, portfolio models in finance, quality control techniques in managerial performance, the role of market competition, policy applications in investment models in finance, risk aversion and efficiency, and technology and innovation.
		The most up-to-date tools of efficiency analysis developed here will be valuable for students and researchers in operations research, applied management science and applied microeconomics.
	www.worldscibooks.com /economics/4385.html (163 words)

	Energy-Efficiency Economics: What You Need to Know (Site not responding. Last check: 2007-10-12)
		If you were to ask a roomful of income-property owners and managers if improved energy efficiency could make their buildings more profitable, competitive, and valuable, most, if not all, probably would say yes.
		Before you can quantify the value of improved energy efficiency in a leased property, you need to evaluate carefully who will pay for the improvement and who will benefit from it (see the sidebar "Calculating the Owner's Share of Savings").
		Because the dynamics of leasing office space frequently cause owners and tenants to stalemate on the topic of energy efficiency, it is not unusual to find tenant spaces that are decades behind their owner-occupied counterparts when it comes to the energy efficiency of lighting and other basic building systems.
	www.hpac.com /member/feature/2003/0301/0301jewell.htm (3387 words)

	Efficiency (economics) Summary
		Efficiency and effectiveness were originally industrial engineering concepts that came of age in the early twentieth century.
		Measures of efficiency, effectiveness, and capability for rapid adaptation are of great interest to all stakeholders: process owners, internal and external customers and suppliers, and executives.
		Efficiency and effectiveness are often considered synonyms, but they mean different things when applied to process management.
	www.bookrags.com /Efficiency_(economics) (1956 words)

	Economic Efficiency Is Not Engineering Efficiency
		In many discussions on economics and engineering, the concept of efficiency is often raised, in one form or another.
		Furthermore, the efficiency of the market as a whole is at odds with the efficiency of a given business.
		In Macroeconomics, efficiency of an economy is threefold: that the maximum number of workers be employed; that the maximum number of products and services are created; and that the flow of currency is maximized.
	c2.com /cgi/wiki?EconomicEfficiencyIsNotEngineeringEfficiency (1320 words)

	Course Descriptions - Economics (Site not responding. Last check: 2007-10-12)
		The course also examines the differences between economic growth and economic development and discusses the different theories of development along with identifying historical, cultural, and political forces which hinder development in the Third World.
		Finally, this course will discuss economic issues related to the well-being of market participants, the tradeoffs between equity and efficiency, the economics of taxation and subsidies, the economics of healthcare, the economics of poverty and income inequality, labor market issues and the basis of free trade.
		After a first exposition of key economic ideas, six major issues are presented; concepts pertinent to each are developed and implemented to illustrate alternative solutions; the range of policy options is identified and examined in detail for each of the issue-areas.
	www.sunysccc.edu /academic/courses/catalog/ECO.html (523 words)

	Pareto-Secure
		Economists use the metric of economic efficiency of allocations between competing agents.
		In economics, if we were to show that there was no algorithm that delivered a Pareto improvement in economics efficiency over AES, we would conclude that AES is Pareto-efficient.
		Such choices are not compatible with the simple and direct assumptions of Pareto efficiency, and this means that the application of the Pareto theory is by no means universally applicable.
	iang.org /papers/pareto-secure.html (4124 words)

	System Economics - Chiller Efficiency
		Chiller operating efficiency is the major component in the annual energy cost.
		These energy costs must be included in the economic comparison, as well as the cost of water required for the cooling tower.
		The chilled water pump consumption of electricity is common to all chillers, so this power input can be either included or omitted since it almost never affects the outcome of the analysis.
	tristate.apogee.net /cool/cfsc.asp (337 words)

	Efficiency (economics) - Wikipedia, the free encyclopedia
		Economic efficiency is a general term for the value assigned to a situation by some measure designed to capture the amount of waste or "friction" or other undesirable economic features present.
		OPTIMUM – The Crusade For Efficiency, A Film by Henry Colomer, 2000, 55 minutes, This documentary focuses on three crusaders for efficiency, namely Jeremy Bentham, Charles Babbage and Francis Galton.
		This economics or finance-related article is a stub.
	en.wikipedia.org /wiki/Efficiency_(economics) (114 words)

	Artemis Project: Economics and Efficiency of SSTO to the Moon
		Economics and Efficiency of SSTO to the Moon
		Two vehicles would be far more efficient from an engineering standpoint.
		Five, with space stations in Earth orbit and lunar orbit, would almost be the epitome of engineering efficiency, but we could do even better with multi-stage rockets at each end with fly-back boosters; perhaps 10 vehicles total.
	www.asi.org /adb/02/07/01/01/ssto-economics.html (809 words)

	Ecological Economics: Why Do Government Economists Still Use Cost Benefit Analysis?
		To the extent we do want to talk efficiency at all, are we going to run our talk to ground by explaining, in appropriate context, the inherent relativity of "efficiency?" (See my four questions below).
		Green economics is built on a foundation of interdependence spanning local to global and spanning four spheres of action/influence: economics, society, ecology, and ethics.
		Our Ecological Economics web-log is designed to daylight and refine economists’ and ecologists' views, agreements, and disagreements on current environmental and natural resource issues.
	forestpolicy.typepad.com /ecoecon/2006/08/why_do_people_s.html (875 words)

	EconPapers: Rolf Färe
		Advertising efficiency and the choice of media mix: a case of beer
		Efficiency of a fixed but allocatable input: A non-parametric approach
		Econpapers is hosted by the Department of Business, Economics, Statistics and Informatics at Örebro University.
	econpapers.repec.org /RAS/pfa113.htm (917 words)

	Institutional and Behavioral Economics
		Hausman, Daniel, "Economic Methodology in a Nutshell," Journal of Economic Perspectives 3(2):115-27, Spring 1989.
		Matthews, R. O., "The Economics of Institutions and the Sources of Economic Growth," Economic Journal 96:903-18, December 1986.
		McCloskey, Donald, "The Rhetoric of Economics," Journal of Economic Literature 21:481- 517, 1983.
	www.msu.edu /user/schmid/bromley.htm (2374 words)

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