GARY S. BECKER
American economist and recipient of the 1992 Nobel Peace Prize in Economics for his microeconomic analysis of human behavior and interaction, and also nonmarket behavior. Prior to Becker, human behavior was initially evaluated within the framework of other social sciences including sociology. He did research on investments in human capital, market discrimination, crime and punishment, and family or household behavior.
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Tit for Tat
Game theory mechanism subject to a payoff matrix similar to a prisoner’s dilemma. Anchored on the concepts of retaliation and altruism, this ...
Nonsegregated Disclosures
Information that must be presented legally anywhere in a lease agreement. These are required by the Federal Reserve Board Regulation M. The lease a ...
Product Line
A series of related products which are all made or manufactured by the same company.
Behavioral Economics
The scientific study on how the mind thinks and how each person reacts as it relates to the process of decision making in economics of individuals ...
Infant-Industry Theory
A theory stating the emerging domestic industries must be protected against foreign competition until they become established and mature. In econom ...
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A Guide to Your Personal Income Tax: Last-Minute Moves
December 31 is fast approaching. The next thing you know you need to file your income tax return. So before you get swarmed by the hustle and bustl ...
A Guide to Your Personal Income Tax: Basics
For many filing your personal income tax is one of the most frustrating things to do. However, by planning ahead and pacing yourself, doing your ta ...
An Introduction to the Basics of Economics
Economics, as defined by the dictionary, is the science that is concerned with the process or system by which goods and services are produced, sold ...
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