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Non-monetary Economy
A moneyless economy or non-monetary economy is a system for the allocation of goods and services as well as for the assignment of work without payment of money. The simplest example is the family household, which can be a system of obligations nevertheless. Moneyless economies are studied in econometry, in particular, game theory and mechanism design. See the section on microeconomics below. When embedded in a monetary economy, a non-monetary economy represents work such as household labor, care giving, civic activity or even friends doing something for each other that does not have a monetary value but remains a vitally important part of the economy. While labor that results in monetary compensation is more highly valued than unpaid labor, nearly half of American productive work goes on outside of the market economy and is not represented in production measures such as the GDP. Embedded non-monetary economies The non-monetary economy, typically embedded in a monetary economy, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Family Economics
Family economics applies economic concepts such as production, division of labor, distribution, and decision making to the family. It is used to explain outcomes unique to family—such as marriage, the decision to have children, fertility, polygamy, time devoted to domestic production, and dowry payments using economic analysis. The family, although recognized as fundamental from Adam Smith onward, received little systematic treatment in economics before the 1960s. Important exceptions are Thomas Robert Malthus' model of population growthThomas Robert Malthus, 1798. ''An Essay on the Principle of Population''. Full text on WikiSource. and Friedrich Engels'Friedrich Engels, 1981, The Origin of the Family, Private Property and State, International Publishers, pp 94-146 pioneering work on the structure of family, the latter being often mentioned in Marxist and feminist economics. Since the 1960s, family economics has developed within mainstream economics, propelled by the ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emotion Work
Emotion work is understood as the art of trying to change in degree or quality an emotion or feeling. Emotion work may be defined as the management of one's own feelings, or work done in an effort to maintain a relationship; there is dispute as to whether emotion work is only work done regulating one’s own emotion, or extends to performing the emotional work for others. Hochschild Arlie Russell Hochschild, who introduced the term in 1979, distinguished emotion work – unpaid emotional work that a person undertakes in private life – from emotional labor: emotional work done in a paid work setting. Emotion work has use value and occurs in situations in which people choose to regulate their emotions for their own non-compensated benefit (e.g., in their interactions with family and friends). By contrast, emotional labor has exchange value because it is traded and performed for a wage. In a later development, Hochschild distinguished between two broad types of emotion work, an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Zeitgeist Movement
The Zeitgeist Movement is an activist movement established in the United States in 2008 by Peter Joseph. The group is critical of market capitalism, describing it as structurally corrupt and wasteful of resources. The group dismisses historic religious concepts as misleading, and embraces sustainable ecology and scientific administration of society. ''VC Reporter's'' Shane Cohn summarized the movement's charter as: "Our greatest social problems are the direct results of our economic system". History The Zeitgeist Movement was formed in 2008 by Joseph shortly after the late 2008 release of '' Zeitgeist: Addendum'', the second film in the ''Zeitgeist'' film series. Zeitgeist was first linked to the Venus Project. In April 2011, partnership between the two groups ended in an apparent power struggle, with Joseph commenting, "Without he Zeitgeist Movement he Venus Projectdoesn’t exist – it has nothing but ideas and has no viable method to bring it to light." The first Zeit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Design
Market design is a practical methodology for creation of markets of certain properties, which is partially based on mechanism design. In some markets, prices may be used to induce the desired outcomes — these markets are the study of auction theory. In other markets, prices may not be used — these markets are the study of stable matching theory, matching theory. In his 2008, Erwin Plein Nemmers Prize in Economics, Nemmers Prize lecture, Market Design and Stanford University economist Paul Milgrom commented on the interdisciplinary nature of market design: "Market design is a kind of economic engineering, utilizing laboratory research, game theory, algorithms, simulations, and more. Its challenges inspire us to rethink longstanding fundamentals of economic theory."Milgrom Nemmers Prize ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Partial Allocation Mechanism
The Partial Allocation Mechanism (PAM) is a mechanism for truthful resource allocation. It is based on the ''max-product allocation'' - the allocation maximizing the product of agents' utilities (also known as the Nash-optimal allocation or the Proportionally-Fair solution; in many cases it is equivalent to the competitive equilibrium from equal incomes). It guarantees to each agent at least 0.368 of his/her utility in the max-product allocation. It was designed by Cole, Gkatzelis and Goel. Setting There are ''m'' resources that are assumed to be ''homogeneous'' and ''divisible''. There are ''n'' agents, each of whom has a personal function that attributes a numeric value to each "bundle" (combination of resources). The valuations are assumed to be homogeneous functions. The goal is to decide what "bundle" to give to each agent, where a bundle may contain a fractional amount of each resource. Crucially, some resources may have to be discarded, i.e., free disposal is assumed. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Truthful Resource Allocation
Truthful resource allocation is the problem of allocating resources among agents with different valuations over the resources, such that agents are incentivized to reveal their true valuations over the resources. Model There are ''m'' resources that are assumed to be ''homogeneous'' and ''divisible''. Examples are: * Materials, such as wood or metal; * Virtual resources, such as CPU time or computer memory; * Financial resources, such as shares in firms. There are ''n'' agents. Each agent has a function that attributes a numeric value to each "bundle" (combination of resources). It is often assumed that the agents' value functions are ''linear'', so that if the agent receives a fraction ''rj'' of each resource ''j'', then his/her value is the sum of ''rj'' *''vj'' . Design goals The goal is to design a truthful mechanism, that will induce the agents to reveal their true value functions, and then calculate an allocation that satisfies some fairness and efficiency objectives. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rationing
Rationing is the controlled distribution of scarce resources, goods, services, or an artificial restriction of demand. Rationing controls the size of the ration, which is one's allowed portion of the resources being distributed on a particular day or at a particular time. There are many forms of rationing, although rationing by price is most prevalent. Rationing is often done to keep price below the market clearing, market-clearing price determined by the process of supply and demand in an free market, unfettered market. Thus, rationing can be complementary to incomes policies, price controls. An example of rationing in the face of rising prices took place in the various countries where there was rationing of gasoline during the 1973 energy crisis. A reason for setting the price lower than would clear the market may be that there is a shortage, which would drive the market price very high. High prices, especially in the case of necessities, are undesirable with regard to those ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rationing
Rationing is the controlled distribution of scarce resources, goods, services, or an artificial restriction of demand. Rationing controls the size of the ration, which is one's allowed portion of the resources being distributed on a particular day or at a particular time. There are many forms of rationing, although rationing by price is most prevalent. Rationing is often done to keep price below the market clearing, market-clearing price determined by the process of supply and demand in an free market, unfettered market. Thus, rationing can be complementary to incomes policies, price controls. An example of rationing in the face of rising prices took place in the various countries where there was rationing of gasoline during the 1973 energy crisis. A reason for setting the price lower than would clear the market may be that there is a shortage, which would drive the market price very high. High prices, especially in the case of necessities, are undesirable with regard to those ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auroville
Auroville (; City of Dawn) is an experimental township in Viluppuram district, mostly in the state of Tamil Nadu, India, with some parts in the Union Territory of Pondicherry in India. It was founded in 1968 by Mirra Alfassa (known as "the Mother") and designed by architect Roger Anger. Etymology Auroville has its origins in the French language, "Aurore" meaning dawn and "Ville" meaning village/city. Additionally, it is named after Sri Aurobindo (1872–1950).Auroville, the Fulfillment of a Dream by Lotfallah Soliman. UNESCO Courier. January 1993 Retrieved 28 May 2016. History [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Creative Commons License
A Creative Commons (CC) license is one of several public copyright licenses that enable the free distribution of an otherwise copyrighted "work".A "work" is any creative material made by a person. A painting, a graphic, a book, a song/lyrics to a song, or a photograph of almost anything are all examples of "works". A CC license is used when an author wants to give other people the right to share, use, and build upon a work that the author has created. CC provides an author flexibility (for example, they might choose to allow only non-commercial uses of a given work) and protects the people who use or redistribute an author's work from concerns of copyright infringement as long as they abide by the conditions that are specified in the license by which the author distributes the work. There are several types of Creative Commons licenses. Each license differs by several combinations that condition the terms of distribution. They were initially released on December 16, 2002, by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Open Source
Open source is source code that is made freely available for possible modification and redistribution. Products include permission to use the source code, design documents, or content of the product. The open-source model is a decentralized software development model that encourages open collaboration. A main principle of open-source software development is peer production, with products such as source code, blueprints, and documentation freely available to the public. The open-source movement in software began as a response to the limitations of proprietary code. The model is used for projects such as in open-source appropriate technology, and open-source drug discovery. Open source promotes universal access via an open-source or free license to a product's design or blueprint, and universal redistribution of that design or blueprint. Before the phrase ''open source'' became widely adopted, developers and producers have used a variety of other terms. ''Open source'' ga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commons-based Peer Production
Commons-based peer production (CBPP) is a term coined by Harvard Law School professor Yochai Benkler. It describes a model of socio-economic production in which large numbers of people work cooperatively; usually over the Internet. Commons-based projects generally have less rigid hierarchical structures than those under more traditional business models. One of the major characteristics of the commons-based peer production is its non-profit scope. Often—but not always—commons-based projects are designed without a need for financial compensation for contributors. For example, sharing of STL (file format) design files for objects freely on the internet enables anyone with a 3-D printer to digitally replicate the object saving the prosumer significant money. Synonymous terms for this process include consumer coproduction and collaborative media production. Overview Benkler contrasts commons-based peer production with firm production, in which tasks are delegated based on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
