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Winner-take-all Market
In economics, a winner-take-all market is a market in which a product or service that is favored over the competitors, even if only slightly, receives a disproportionately large share of the revenues for that class of products or services. It occurs when the top producer of a product earns a lot more than their competitors. Examples of winner-take-all markets include the sports and entertainment markets. The distribution of rewards for different amounts of work determines the degree to which a market is considered winner-take-all. For example, most lottery games are 100% winner-take-all systems because one person takes the entire reward and the rest receive nothing. On the other hand, most manual work, such as picking apples, is the opposite of a winner-take-all system. In this apple-picking example, the reward is proportional to the amount picked — a person who picks only one box of apples still gets rewarded proportionally. There are also intermediate cases. For example, in Ol ... [...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] |
Lottery
A lottery is a form of gambling that involves the drawing of numbers at random for a prize. Some governments outlaw lotteries, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments. The most common regulation is prohibition of sale to minors, and vendors must be licensed to sell lottery tickets. Although lotteries were common in the United States and some other countries during the 19th century, by the beginning of the 20th century, most forms of gambling, including lotteries and sweepstakes, were illegal in the U.S. and most of Europe as well as many other countries. This remained so until well after World War II. In the 1960s, casinos and lotteries began to re-appear throughout the world as a means for governments to raise revenue without raising taxes. Lotteries come in many formats. For example, the prize can be a fixed amount of cash or goods. In this format, there is risk t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Olympic Games
The modern Olympic Games or Olympics (french: link=no, Jeux olympiques) are the leading international sporting events featuring summer and winter sports competitions in which thousands of athletes from around the world participate in a variety of competitions. The Olympic Games are considered the world's foremost sports competition with more than 200 teams, representing sovereign states and territories, participating. The Olympic Games are normally held every four years, and since 1994, have alternated between the Summer and Winter Olympics every two years during the four-year period. Their creation was inspired by the ancient Olympic Games (), held in Olympia, Greece from the 8th century BC to the 4th century AD. Baron Pierre de Coubertin founded the International Olympic Committee (IOC) in 1894, leading to the first modern Games in Athens in 1896. The IOC is the governing body of the Olympic Movement (which encompasses all entities and individuals involved in the Oly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bragging Rights
Boasting or bragging is speaking with excessive pride and self-satisfaction about one's achievements, possessions, or abilities. Boasting occurs when someone feels a sense of satisfaction or when someone feels that whatever occurred proves their superiority and is recounting accomplishments so that others will feel admiration or envy. Individuals construct an image of themselves, a personal identity, and present themselves in a manner that is consistent with that image. Theodore Millon theorized that in self-presentation, individuals seek to balance boasting against discrediting themselves with excessive self-promotion or being caught blatantly misrepresenting themselves. Studies show that people often have a limited ability to perceive how their efforts at self-presentation are actually impacting their acceptance and likeability by others. Forms of bragging Although a brag can be as straightforward as a simple claim to riches or greatness, it often assumes a variety of more ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rail Transport
Rail transport (also known as train transport) is a means of transport that transfers passengers and goods on wheeled vehicles running on rails, which are incorporated in tracks. In contrast to road transport, where the vehicles run on a prepared flat surface, rail vehicles ( rolling stock) are directionally guided by the tracks on which they run. Tracks usually consist of steel rails, installed on sleepers (ties) set in ballast, on which the rolling stock, usually fitted with metal wheels, moves. Other variations are also possible, such as "slab track", in which the rails are fastened to a concrete foundation resting on a prepared subsurface. Rolling stock in a rail transport system generally encounters lower frictional resistance than rubber-tyred road vehicles, so passenger and freight cars (carriages and wagons) can be coupled into longer trains. The operation is carried out by a railway company, providing transport between train stations or freight customer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Matthew Effect
The Matthew effect of accumulated advantage, Matthew principle, or Matthew effect, is the tendency of individuals to accrue social or economic success in proportion to their initial level of popularity, friends, wealth, etc. It is sometimes summarized by the adage "the rich get richer and the poor get poorer". The term was coined by sociologists Robert K. Merton and Harriet Zuckerman in 1968 and takes its name from the Parable of the Talents in the biblical Gospel of Matthew. The Matthew effect may largely be explained by preferential attachment, whereby wealth or credit is distributed among individuals according to how much they already have. This has the net effect of making it increasingly difficult for low ranked individuals to increase their totals because they have fewer resources to risk over time, and increasingly easy for high rank individuals to preserve a large total because they have a large amount to risk. The study of Matthew effects were initially focused primarily ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Rich Get Richer And The Poor Get Poorer
"The rich get richer and the poor get poorer" is an aphorism due to Percy Bysshe Shelley. In '' A Defence of Poetry'' (1821, not published until 1840) Shelley remarked that the promoters of utility had exemplified the saying, "To him that hath, more shall be given; and from him that hath not, the little that he hath shall be taken away. The rich have become richer, and the poor have become poorer; and the vessel of the State is driven between the Scylla and Charybdis of anarchy and despotism." It describes a Positive feedback loop (a corresponding Negative feedback loop would be e.g. Progressive tax). "To him that hath" etc. is a reference to Matthew 25:29 (the parable of the talents, see also Matthew effect). The aphorism is commonly evoked, with variations in wording, as a synopsis of the effect of free market capitalism producing excessive inequality. Predecessors Andrew Jackson, the seventh President of the U.S. (1829–1837), in his 1832 bank veto, said that "when the la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert H
The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of '' Hruod'' ( non, Hróðr) "fame, glory, honour, praise, renown" and ''berht'' "bright, light, shining"). It is the second most frequently used given name of ancient Germanic origin. It is also in use as a surname. Another commonly used form of the name is Rupert. After becoming widely used in Continental Europe it entered England in its Old French form ''Robert'', where an Old English cognate form (''Hrēodbēorht'', ''Hrodberht'', ''Hrēodbēorð'', ''Hrœdbœrð'', ''Hrœdberð'', ''Hrōðberχtŕ'') had existed before the Norman Conquest. The feminine version is Roberta. The Italian, Portuguese, and Spanish form is Roberto. Robert is also a common name in many Germanic languages, including English, German, Dutch, Norwegian, Swedish, Scots, Danish, and Icelandic. It can be use ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philip J
Philip, also Phillip, is a male given name, derived from the Greek (''Philippos'', lit. "horse-loving" or "fond of horses"), from a compound of (''philos'', "dear", "loved", "loving") and (''hippos'', "horse"). Prominent Philips who popularized the name include kings of Macedonia and one of the apostles of early Christianity. ''Philip'' has many alternative spellings. One derivation often used as a surname is Phillips. It was also found during ancient Greek times with two Ps as Philippides and Philippos. It has many diminutive (or even hypocoristic) forms including Phil, Philly, Lip, Pip, Pep or Peps. There are also feminine forms such as Philippine and Philippa. Antiquity Kings of Macedon * Philip I of Macedon * Philip II of Macedon, father of Alexander the Great * Philip III of Macedon, half-brother of Alexander the Great * Philip IV of Macedon * Philip V of Macedon New Testament * Philip the Apostle * Philip the Evangelist Others * Philippus of Croton (c. 6th ce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
