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A PRIORI: A presumption made before an analysis is undertaken, often based on experiences, beliefs, or deductions from seemingly self-evident propositions about how the world works. This is a Latin for assumption or axiom. A similar sounding, but opposite term is a posteriori, which is derived from observation or facts. For example, in the study of economics of crime you might assume, a priori, that people are basically "good", because that just seems to be part of human nature, and conclude, a posteriori, that people are more likely to commit crimes when the threat of capture and conviction is lower.
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MARGINAL COST OF SEARCH The incremental cost incurred by additional search effort is the marginal cost of search. Marginal cost of search, also termed marginal search cost, is comparable to marginal cost of short-run production analysis. Marginal cost of search increases with an increase in search effort and is represented by the marginal cost of search curve. This is one half of the efficient information search decision. The other is marginal benefit of search.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway trying to buy either a how-to book on fine dining or a coffee cup commemorating the first day of winter. Be on the lookout for malfunctioning pocket calculators.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"He who has a „why¾ to live can bear with almost any „how."" -- Friedrich Nietzsche, Philosopher
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MC
Marginal Cost
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