Tag: sciences
Jan Tinbergen
DefinitionJan Tinbergen was an important Dutch economist. He was awarded the first Nobel Memorial Prize in Economic Sciences in 1969, which he shared with...
John Bates Clark Medal
DefinitionThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged...
Economic Blight
What is 'Economic Blight' The visible and physical decline of a property, neighborhood or city due to a combination of economic downturns,...
Nakahara Prize
DefinitionThe Nakahara Prize is an annual award given by the Japanese Economic Association to Japanese economists under the age of 45 whose work has...
Valoren Number
What is 'Valoren Number' An identification number assigned to financial instruments in Switzerland. These numbers are similar to the CUSIP numbers that...
Ma And Pa Shop
What is 'Ma And Pa Shop' A colloquial term for a small, independent, family-owned business. Unlike franchises and large corporations, which have...
Ragnar Frisch
What is 'Ragnar Frisch' A Norwegian economist and joint winner in 1969 of the very first Nobel Prize in Economics, along with...
What is the Pareto Principle?
Definition
The Pareto principle states that, for many events, roughly 80% of the effects come from 20% of the causes. Management consultant Joseph M. Juran...
A Priori Probability
What is 'A Priori Probability' A priori probability is a probability calculated by logically examining existing information. A priori probability can most...
Zaraba method
What is ‘Zaraba method'
Zaraba method is a method of matching orders that involves using an auction-like process to trade securities. The orders are organized...