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Asymmetric Price Transmission
Asymmetric price transmission (sometimes abbreviated as APT and informally called "rockets and feathershttps://web.archive.org/web/20080805205338/http://www.knowledgeproblem.com/archives/001444.htm refers to pricing phenomenon occurring when downstream prices react in a different manner to upstream price changes, depending on the characteristics of upstream prices or changes in those prices. The simplest example is when prices of ready products increase promptly whenever prices of inputs increase, but take time to decrease after input price decreases. Introduction Terminology In business terms, ''price transmission'' means the process in which upstream prices affect downstream prices. ''Upstream prices'' should be thought of in terms of main inputs prices (for processing/manufacturing, etc.) or prices quoted on higher market levels (e.g. wholesale markets). Accordingly, ''downstream prices'' should be thought of in terms of output prices (for processing/manufacturing, etc. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Time Asymmetry
Time is the continued sequence of existence and events that occurs in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence events, to compare the duration of events or the intervals between them, and to quantify rates of change of quantities in material reality or in the conscious experience. Time is often referred to as a fourth dimension, along with three spatial dimensions. Time has long been an important subject of study in religion, philosophy, and science, but defining it in a manner applicable to all fields without circularity has consistently eluded scholars. Nevertheless, diverse fields such as business, industry, sports, the sciences, and the performing arts all incorporate some notion of time into their respective measuring systems. 108 pages. Time in physics is operationally defined as "what a clock reads". The physical nature of time is addressed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Size Asymmetry
Size in general is the magnitude or dimensions of a thing. More specifically, ''geometrical size'' (or ''spatial size'') can refer to linear dimensions (length, width, height, diameter, perimeter), area, or volume. Size can also be measured in terms of mass, especially when assuming a density range. In mathematical terms, "size is a concept abstracted from the process of measuring by comparing a longer to a shorter". Size is determined by the process of comparing or measuring objects, which results in the determination of the magnitude of a quantity, such as length or mass, relative to a unit of measurement. Such a magnitude is usually expressed as a numerical value of units on a previously established spatial scale, such as meters or inches. The sizes with which humans tend to be most familiar are body dimensions (measures of anthropometry), which include measures such as human height and human body weight. These measures can, in the aggregate, allow the generation of c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Terms
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being subject to corporate tax rates. A corporation is more complicated an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quality Of Life
Quality of life (QOL) is defined by the World Health Organization as "an individual's perception of their position in life in the context of the culture and value systems in which they live and in relation to their goals, expectations, standards and concerns". Standard indicators of the quality of life include wealth, employment, the environment, physical and mental health, education, recreation and leisure time, social belonging, religious beliefs, safety, security and freedom. QOL has a wide range of contexts, including the fields of international development, healthcare, politics and employment. Health related QOL (HRQOL) is an evaluation of QOL and its relationship with health. Engaged theory One approach, called engaged theory, outlined in the journal of ''Applied Research in the Quality of Life'', posits four domains in assessing quality of life: ecology, economics, politics and culture. In the domain of culture, for example, it includes the following subdomains of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demand Function
In economics, a demand curve is a graph depicting the relationship between the price of a certain commodity (the ''y''-axis) and the quantity of that commodity that is demanded at that price (the ''x''-axis). Demand curves can be used either for the price-quantity relationship for an individual consumer (an individual demand curve), or for all consumers in a particular market (a market demand curve). It is generally assumed that demand curves slope down, as shown in the adjacent image. This is because of the law of demand: for most goods, the quantity demanded falls if the price rises. Certain unusual situations do not follow this law. These include Veblen goods, Giffen goods, and speculative bubbles where buyers are attracted to a commodity if its price rises. Demand curves are used to estimate behaviour in competitive markets and are often combined with supply curves to find the equilibrium price (the price at which sellers together are willing to sell the same amount as buy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Concave Function
In mathematics, a concave function is the negative of a convex function. A concave function is also synonymously called concave downwards, concave down, convex upwards, convex cap, or upper convex. Definition A real-valued function f on an interval (or, more generally, a convex set in vector space) is said to be ''concave'' if, for any x and y in the interval and for any \alpha \in ,1/math>, :f((1-\alpha )x+\alpha y)\geq (1-\alpha ) f(x)+\alpha f(y) A function is called ''strictly concave'' if :f((1-\alpha )x + \alpha y) > (1-\alpha) f(x) + \alpha f(y)\, for any \alpha \in (0,1) and x \neq y. For a function f: \mathbb \to \mathbb, this second definition merely states that for every z strictly between x and y, the point (z, f(z)) on the graph of f is above the straight line joining the points (x, f(x)) and (y, f(y)). A function f is quasiconcave if the upper contour sets of the function S(a)=\ are convex sets. Properties Functions of a single variable # A differentiab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Convex Function
In mathematics, a real-valued function is called convex if the line segment between any two points on the graph of a function, graph of the function lies above the graph between the two points. Equivalently, a function is convex if its epigraph (mathematics), epigraph (the set of points on or above the graph of the function) is a convex set. A twice-differentiable function of a single variable is convex if and only if its second derivative is nonnegative on its entire domain. Well-known examples of convex functions of a single variable include the quadratic function x^2 and the exponential function e^x. In simple terms, a convex function refers to a function whose graph is shaped like a cup \cup, while a concave function's graph is shaped like a cap \cap. Convex functions play an important role in many areas of mathematics. They are especially important in the study of optimization problems where they are distinguished by a number of convenient properties. For instance, a st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopoly
A monopoly (from Greek language, Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or company, enterprise is the only supplier of a particular thing. This contrasts with a monopsony which relates to a single entity's control of a Market (economics), market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market. Monopolies are thus characterized by a lack of economic Competition (economics), competition to produce the good (economics), good or Service (economics), service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb ''monopolise'' or ''monopolize'' refers to the ''process'' by which a company gains the ability to raise ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Perfect Competition
In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition. In Economic model, theoretical models where conditions of perfect competition hold, it has been demonstrated that a Market (economics), market will reach an Economic equilibrium, equilibrium in which the quantity supplied for every Goods and services, product or service, including Workforce, labor, equals the quantity demanded at the current price. This equilibrium would be a Pareto optimum. Perfect competition provides both allocative efficiency and productive efficiency: * Such markets are ''allocatively efficient'', as output will always occur where marginal cost is equal to average revenue i.e. price (MC = AR). In perfect competition, any Profit maximization, profit-maximizing producer faces a market price equal to its marginal cost (P = MC). This implies that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Combined Asymmetry
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Combined may refer to: * Alpine combined (skiing), the combination of slalom and downhill skiing as a single event ** Super combined (skiing) * Nordic combined (skiing), the combination of cross country skiing and ski jumping as a single event * The Combined (Group), a criminal organization See also * * Combo (other) * Combine (other) * Combination (other) A combination is a mathematical collection of things in a context where their specific order is irrelevant. Combination, combinations, or combo may also refer to: * Combination (chess), a relatively long sequence of chess moves, involving tempora ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Downstream Price
Downstream may refer to: * Downstream (bioprocess) * Downstream (manufacturing) * Downstream (networking) * Downstream (software development) * Downstream (petroleum industry) * Upstream and downstream (DNA), determining relative positions on DNA * Upstream and downstream (transduction), determining temporal and mechanistic order of cellular and molecular events of signal transduction In entertainment * ''Downstream'' (novella), a novella by Joris-Karl Huysmans * ''Downstream'' (1929 film), a British film by Giuseppe Guarino * ''Downstream'' (2010 film), an action science fiction film * "Downstream" (''Land of the Lost''), an episode of the 1974 series '"Land of the lost" * ''Downstream'' (album), an album by New Monsoon * "Downstream", a song by Supertramp from ''Even in the Quietest Moments'' * "Downstream", a song by American Head Charge from ''The Feeding'' * "Downstream", a track written by Shira Kammen that was part of the ''Braid A braid (also referred to as a pla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Symmetric Price Transmission
Symmetry (from grc, συμμετρία "agreement in dimensions, due proportion, arrangement") in everyday language refers to a sense of harmonious and beautiful proportion and balance. In mathematics, "symmetry" has a more precise definition, and is usually used to refer to an object that is invariant under some transformations; including translation, reflection, rotation or scaling. Although these two meanings of "symmetry" can sometimes be told apart, they are intricately related, and hence are discussed together in this article. Mathematical symmetry may be observed with respect to the passage of time; as a spatial relationship; through geometric transformations; through other kinds of functional transformations; and as an aspect of abstract objects, including theoretic models, language, and music. This article describes symmetry from three perspectives: in mathematics, including geometry, the most familiar type of symmetry for many people; in science and nature; a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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