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Competition (economics) and X-inefficiency

Shortcuts: Differences, Similarities, Jaccard Similarity Coefficient, References.

Difference between Competition (economics) and X-inefficiency

Competition (economics) vs. X-inefficiency

In economics, competition is a condition where different economic firmsThis article follows the general economic convention of referring to all actors as firms; examples in include individuals and brands or divisions within the same (legal) firm. X-inefficiency is the difference between efficient behavior of businesses assumed or implied by economic theory and their observed behavior in practice caused by a lack of competitive pressure.

Similarities between Competition (economics) and X-inefficiency

Competition (economics) and X-inefficiency have 6 things in common (in Unionpedia): George Stigler, Market power, Monopoly, Pareto efficiency, Perfect competition, The New Palgrave Dictionary of Economics.

George Stigler

George Joseph Stigler (January 17, 1911 – December 1, 1991) was an American economist, the 1982 laureate in Nobel Memorial Prize in Economic Sciences and a key leader of the Chicago School of Economics.

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Market power

In economics and particularly in industrial organization, market power is the ability of a firm to profitably raise the market price of a good or service over marginal cost.

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Monopoly

A monopoly (from Greek μόνος mónos and πωλεῖν pōleîn) exists when a specific person or enterprise is the only supplier of a particular commodity.

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Pareto efficiency

Pareto efficiency or Pareto optimality is a state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.

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Perfect competition

In economics, specifically general equilibrium theory, a perfect market is defined by several idealizing conditions, collectively called perfect competition.

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The New Palgrave Dictionary of Economics

The New Palgrave Dictionary of Economics (2008), 2nd ed., is an eight-volume reference work on economics, edited by Steven N. Durlauf and Lawrence E. Blume and published by Palgrave Macmillan.

Competition (economics) and The New Palgrave Dictionary of Economics · The New Palgrave Dictionary of Economics and X-inefficiency · See more »

The list above answers the following questions

Competition (economics) and X-inefficiency Comparison

Competition (economics) has 46 relations, while X-inefficiency has 22. As they have in common 6, the Jaccard index is 8.82% = 6 / (46 + 22).

References

This article shows the relationship between Competition (economics) and X-inefficiency. To access each article from which the information was extracted, please visit:

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