To solve the Bertrand paradox, the Irish economist Francis Ysidro Edgeworth put forward the Edgeworth Paradox in his paper "The Pure Theory of Monopoly", published in 1897. In economics, the Edgeworth paradox describes a situation in which two players cannot reach a state of equilibrium with pure strategies, i.e. each charging a stable price. A fact of the Edgeworth Paradox is that in some cases, even if the direct price impact is negative and exceeds the conditions, an increase in cost proportional to the quantity of an item provided may cause a decrease in all optimal prices. Due to the limited production capacity of enterprises in reality, if only one enterprise's total production capacity can be supplied cannot meet social demand, another enterprise can charge a price that exceeds the marginal cost for the residual social need. (Wikipedia).
6. From Classical to Neoclassical Utilitarianism
Moral Foundations of Politics (PLSC 118) In this economics-oriented lecture, Professor Shapiro introduces neoclassical utilitarianism as it was formulated by economist Vilfredo Pareto and further described by Francis Edgeworth, examining such concepts as indifference curves, transitivit
From playlist The Moral Foundations of Politics with Ian Shapiro
2. Utilities, Endowments, and Equilibrium
Financial Theory (ECON 251) This lecture explains what an economic model is, and why it allows for counterfactual reasoning and often yields paradoxical conclusions. Typically, equilibrium is defined as the solution to a system of simultaneous equations. The most important economic mode
From playlist Financial Theory with John Geanakoplos
Graphing a system of inequalities when one inequality is a vertical boundary line
👉 Learn how to graph a system of inequalities. A system of inequalities is a set of inequalities which are collectively satisfied by a certain range of values for the variables. To graph a system of inequalities, each inequality making up the system is graphed individually with the side of
From playlist Solve a System of Inequalities by Graphing
Solving Linear Inequalities in One Variable
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From playlist Linear Inequalities in One Variable Solving Linear Inequalities
4. Efficiency, Assets, and Time
Financial Theory (ECON 251) Over time, economists' justifications for why free markets are a good thing have changed. In the first few classes, we saw how under some conditions, the competitive allocation maximizes the sum of agents' utilities. When it was found that this property didn'
From playlist Financial Theory with John Geanakoplos
From playlist Contributed talks One World Symposium 2020
How to graph and shade a system of linear inequalities
👉 Learn how to graph a system of inequalities. A system of inequalities is a set of inequalities which are collectively satisfied by a certain range of values for the variables. To graph a system of inequalities, each inequality making up the system is graphed individually with the side of
From playlist Solve a System of Inequalities by Graphing
MIT 14.04 Intermediate Microeconomic Theory, Fall 2020 Instructor: Prof. Robert Townsend View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/ YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2
From playlist MIT 14.04 Intermediate Microeconomic Theory, Fall 2020
Lecture 13: Walrasian Equilibrium and Trade
MIT 14.04 Intermediate Microeconomic Theory, Fall 2020 Instructor: Prof. Robert Townsend View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/ YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2
From playlist MIT 14.04 Intermediate Microeconomic Theory, Fall 2020
Graph Linear Inequalities in One Variable (Basic)
This video explains how to graph basic linear inequalities in one variable. http://mathispower4.com
From playlist Linear Inequalities in One Variable Solving Linear Inequalities
One-on-One Conversation with New Horizons Scientist
Hank interviews Dr. Alex Harrison Parker about New Horizons' Pluto flyby, what's next for the probe, and what we can anticipate learning about the solar system's history! ---------- Dooblydoo thanks go to the following Patreon supporters -- we couldn't make SciShow without them! Shout out
From playlist SciShow Talk Show
3. Counting the Fingers of Adam Smith's Invisible Hand
Capitalism: Success, Crisis and Reform (PLSC 270) Professor Rae introduces Adam Smith's notion of the "invisible hand" of the market. Several preconditions must be met for the invisible hand to work. Markets must be open, and there cannot be just one buyer or one seller who can control
From playlist Capitalism: Success, Crisis and Reform with Douglas W. Rae
Graphing a system of linear inequalities
👉 Learn how to graph a system of inequalities. A system of inequalities is a set of inequalities which are collectively satisfied by a certain range of values for the variables. To graph a system of inequalities, each inequality making up the system is graphed individually with the side of
From playlist Solve a System of Inequalities by Graphing
The Power of Sampling by Peter W. Glynn
Infosys-ICTS Turing Lectures The Power of Sampling Speaker: Peter W. Glynn (Stanford University, USA) Date: 14 August 2019, 16:00 to 17:00 Venue: Ramanujan Lecture Hall, ICTS Bangalore Sampling-based methods arise in many statistical, computational, and engineering settings. In engine
From playlist Infosys-ICTS Turing Lectures
Introduction to Differential Inequalities
What is a differential inequality and how are they useful? Inequalities are a very practical part of mathematics: They give us an idea of the size of things -- an estimate. They can give us a location for things. It is usually far easier to satisfy assumptions involving inequalities t
From playlist Advanced Studies in Ordinary Differential Equations
How to determine the solution of a system of linear inequalities by graphing
👉 Learn how to graph a system of inequalities. A system of inequalities is a set of inequalities which are collectively satisfied by a certain range of values for the variables. To graph a system of inequalities, each inequality making up the system is graphed individually with the side of
From playlist Solve a System of inequalities by Graphing | Standard Form
Graph Theory: 20. Edge Weighted Shortest Path Problem
This video explains the problem known as the edge-weighted shortest path problem. The next two videos look at an algorithm which provides a solution to the problem. --An introduction to Graph Theory by Dr. Sarada Herke. For quick videos about Math tips and useful facts, check out my othe
From playlist Graph Theory part-4
Graphing a linear system of linear inequalities
👉 Learn how to graph a system of inequalities. A system of inequalities is a set of inequalities which are collectively satisfied by a certain range of values for the variables. To graph a system of inequalities, each inequality making up the system is graphed individually with the side of
From playlist Solve a System of inequalities by Graphing | Standard Form
12. Accountability and Greed in Investment Banking
Capitalism: Success, Crisis and Reform (PLSC 270) Professor Rae explores the creation of incentives and disincentives for individual action. The discussion begins with the Coase Theorem, which outlines three conditions for efficient transactions: 1) clear entitlements to property, 2) tr
From playlist Capitalism: Success, Crisis and Reform with Douglas W. Rae
Why do we have to flip the sign when we divide or multiply by negative one - Cool Math
👉 Learn about solving an inequality and graphing it's solution. An inequality is a relation where the expression in the left hand side is not equal to the expression in the right hand side of the inequality sign. A linear inequality is an inequality whose highest power in the variable(s) i
From playlist Solve and Graph Inequalities | Learn About