REVERSE AUCTION
An auction where sellers bid for the prices at which they are willing to sell their goods or services. It is the opposite of a regular auction, in which a seller sells an item and then buyers will place bids until the close of the auction. The buyer with the highest bid will get the item. In the reverse auction, buyers are the ones who put up a request for a required good or service, and then the sellers place bids for the amount they are willing to be paid for the good or service. The seller with the lowest bid at the end of the auction will then be the winner.
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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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SEE FOREX TUTORIAL
What is the Standard Moving Cost?
You concluded remodeling is expensive upon considering all important factors. So you decided to move to another house instead. But, is moving less ...
Buying a Home: Determining the Amount You Can Afford
You have decided to buy a house, choose the best location, and select a home suitable for you needs. It is high time to determine the amount you ca ...
Renovate or Move?
You have a well-furnished home with a garden full of flowers and plants. Imagine sharing your beautiful abode, which has four bedrooms, a kitchen, ...
Introduction to Inflation
I asked my grandparents about the cost of living during World War II. They told me people during that period could buy a house for $5,000, a car fo ...
A Guide to Your Personal Income Tax: Common Filing Mistakes
Failure to file the return on time is the most common mistake committed by taxpayers. Here are some of the other mistakes, which can cost you a lot ...
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