Sentences with phrase «allocative efficiency»
Allocative efficiency refers to the optimal allocation of resources in a way that maximizes the overall welfare or benefit for society. It means efficiently utilizing resources to produce the goods and services that are most desired and valued by people. In other words, it implies allocating resources in a manner that generates the greatest satisfaction or happiness for individuals based on their preferences and needs. Full definition
What we lack is an honest public debate that acknowledges the connections, and the difficulties of reconciling public - service commitment with the rule book on one side and the claimed allocative efficiency of public - sector markets on the other.
blog.politics.ox.ac.uk
That is, one can not exclude the possibility that under very specific conditions, congestion pricing does improve allocative efficiency (based on individuals» wealth constrained preferences defined over a large number of physical things and activities).
Bell, William and Foster, John (2012): Feed - in tariffs for promoting solar PV: progressing from dynamic to allocative efficiency.
Feed - in tariffs; FiT; solar PV; residential solar PV; reverse auction FiT; parity; Levelised cost of energy; LCOE; Diffusion of innovations; dynamic efficiency; allocative efficiency; Sustainable; Social progress; Environmental protection; Social inequity; DUOS; TUOS; smart meters
A basic principle of economics is to allocate scarce resources in an efficient way, that is to say in a way in which those given scarce resources are able to produce the maximum benefit for the whole society (maximisation of allocative efficiency).
Tags for this Online Resume: Personality, Allocative efficiency, Organizational experience, Attention to detail