English Risk aversion Cited by user Chris Capoccia on 26 Dec 2020 In economics and finance, risk aversion is the tendency of people to prefer outcomes with low uncertainty to those outcomes with high uncertainty, even if the average…
English Welfare Cited by user Exswimmer495 on 12 Dec 2020 More broadly, welfare may also encompass efforts to provide a basic level of well-being through free or subsidized social services such as healthcare, education…
English Pareto efficiency Cited by user Mrchen0702 on 11 Dec 2020 Pareto efficiency or Pareto optimality is a situation where no individual or preference criterion can be better off without making at least one individual or preference…
English Strategy (game theory) Cited by user Chaoxu00 on 10 Dec 2020 In game theory, more descriptively known as "interactive decision theory," a player's strategy is any of the options which he or she chooses in a setting where the…