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Relative Gains
Relative gain, in international relations, is the actions of states only in respect to power balances and without regard to other factors, such as economics. In international relations, cooperation may be necessary to balance power, but concerns about relative gains will limit that cooperation due to the low quality of information about other states' behavior and interests. Such relative-gains concerns, however, may sometimes be mitigated by individual social preferences. Relative gain is related to zero-sum game Zero-sum game is a mathematical representation in game theory and economic theory of a situation which involves two sides, where the result is an advantage for one side and an equivalent loss for the other. In other words, player one's gain is e ..., which states that wealth cannot be expanded and the only way a state can become richer is to take wealth from another state. It differs from absolute gain, which is the total effect of a decision on the state or organiza ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Relations
International relations (IR), sometimes referred to as international studies and international affairs, is the scientific study of interactions between sovereign states. In a broader sense, it concerns all activities between states—such as war, diplomacy, trade, and foreign policy—as well as relations with and among other international actors, such as intergovernmental organisations (IGOs), international nongovernmental organisations (INGOs), international legal bodies, and multinational corporations (MNCs). There are several schools of thought within IR, of which the most prominent are realism, liberalism, and constructivism. International relations is widely classified as a major subdiscipline of political science, along with comparative politics and political theory. However, it often draws heavily from other fields, including anthropology, economics, geography, law, philosophy, sociology, and history. While international politics has been analyzed since antiquit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign State
A sovereign state or sovereign country, is a polity, political entity represented by one central government that has supreme legitimate authority over territory. International law defines sovereign states as having a permanent population, defined territory (see territorial disputes), one government, and the capacity to enter into International relations, relations with other sovereign states. It is also normally understood that a Sovereignty#Sovereignty and independence, sovereign state is independent. According to the declarative theory of statehood, a sovereign state can exist without being Diplomatic recognition, recognised by other sovereign states.Thomas D. Grant, ''The recognition of states: law and practice in debate and evolution'' (Westport, Connecticut: Praeger, 1999), chapter 1. List of states with limited recognition, Unrecognised states will often find it difficult to exercise full treaty-making powers or engage in Diplomacy, diplomatic relations with other sovereign ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Preferences
Social preferences describe the human tendency to not only care about one's own material payoff, but also the reference group's payoff or/and the intention that leads to the payoff. Social preferences are studied extensively in behavioral and experimental economics and social psychology. Types of social preferences include altruism, fairness, reciprocity, and inequity aversion. The field of economics originally assumed that humans were rational economic actors, and as it became apparent that this was not the case, the field began to change. The research of social preferences in economics started with lab experiments in 1980, where experimental economists found subjects' behavior deviated systematically from self-interest behavior in economic games such as ultimatum game and dictator game. These experimental findings then inspired various new economic models to characterize agent's altruism, fairness and reciprocity concern between 1990 and 2010. More recently, there are growing amou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zero-sum Game
Zero-sum game is a mathematical representation in game theory and economic theory of a situation which involves two sides, where the result is an advantage for one side and an equivalent loss for the other. In other words, player one's gain is equivalent to player two's loss, therefore the net improvement in benefit of the game is zero. If the total gains of the participants are added up, and the total losses are subtracted, they will sum to zero. Thus, cutting a cake, where taking a more significant piece reduces the amount of cake available for others as much as it increases the amount available for that taker, is a zero-sum game if all participants value each unit of cake equally. Other examples of zero-sum games in daily life include games like poker, chess, and bridge where one person gains and another person loses, which results in a zero-net benefit for every player. In the markets and financial instruments, futures contracts and options are zero-sum games as well. In c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McGraw-Hill
McGraw Hill is an American educational publishing company and one of the "big three" educational publishers that publishes educational content, software, and services for pre-K through postgraduate education. The company also publishes reference and trade publications for the medical, business, and engineering professions. McGraw Hill operates in 28 countries, has about 4,000 employees globally, and offers products and services to about 140 countries in about 60 languages. Formerly a division of The McGraw Hill Companies (later renamed McGraw Hill Financial, now S&P Global), McGraw Hill Education was divested and acquired by Apollo Global Management in March 2013 for $2.4 billion in cash. McGraw Hill was sold in 2021 to Platinum Equity for $4.5 billion. Corporate History McGraw Hill was founded in 1888 when James H. McGraw, co-founder of the company, purchased the ''American Journal of Railway Appliances''. He continued to add further publications, eventually establishing The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Absolute Gain (international Relations)
According to the international relations theory of Liberalism, absolute gain is what international actors look at in determining their interests, weighing out the total effects of a decision on the state or organization and acting accordingly. The international actor's interests not only include power but also encompass the economic and cultural effects of an action as well. The theory is also interrelated with a non-zero-sum game which proposes that through use of comparative advantage, all states who engage in peaceful relations and trade can expand wealth. This differs from Realist International Relations theories that employ relative gain, which seeks to describe the actions of states only in respect to power balances and without regard to other factors, such as economics. Relative gain is related to zero-sum game Zero-sum game is a mathematical representation in game theory and economic theory of a situation which involves two sides, where the result is an advantage for o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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