economic efficiency

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Market Efficiency

The extent to which the price of an asset reflects all information available. Economists disagree on how efficient markets are. Followers of the efficient markets theory hold that the market efficiently deals with all information on a given security and reflects it in the price immediately, and that technical analysis, fundamental analysis, and/or any speculative investing based on those methods are useless. On the other hand, the primary observation of behavioral economics holds that investors (and people in general) make decisions on imprecise impressions and beliefs, rather than rational analysis, rendering markets somewhat inefficient to the extent that they are affected by people.

economic efficiency

an aspect of PRODUCTION that seeks to identify, for a given level of OUTPUT, the combination of FACTOR INPUTS that minimizes the COST of producing that output. More broadly, economic efficiency is equated with the effectiveness of RESOURCE ALLOCATION in the economy as a whole such that outputs of goods and services fully reflect consumer preferences for these goods and services as well as individual goods and services being produced at minimum cost through appropriate mixes of factor inputs.

See EFFICIENCY, COST FUNCTION.

References in periodicals archive ?
The study also says that new electricity generation from wind could be more economically efficient than natural gas.
He finds that farmers would clearly prefer to adopt more diversified, economically efficient, and environmentally friendly agricultural practices.
Pest control strategy experts who carried out the training session emphasised that the objective was to provide an effective and economically efficient approach to pest control, without jeopardising public safety.
ATLANTIS, The Palm and Gargash Enterprises have entered into a pioneering new partnership by making Atlantis the first resort in the region with an entire fleet of hybrid vehicles cars with the economically efficient Mercedes-Benz S 400 Hybrid cars.
There is the report of experts of 2010 which says extraction of ore at the Jamgyr mine and its processing there will be more economically efficient and will increase profits for $20.
The Alila Resort is being built to LEED standards, featuring an environmentally and economically efficient sewage treatment plant engineered to dramatically reduce water consumption by 35% on the project site.
Economically efficient - only one work process for carpet cabling and heat setting
Though a refinery like Valero's Houston refinery could run 100 per cent light, a pure light feedstock might not be economically efficient at a more complex refinery like Port Arthur or Texas City designed to handle heavy, Day said.
The leading-edge technologies, being the core ingredient of the Sukhoi Superjet 100 Project, are part of its every stage - from design and development to final assembly, delivering a modern, economically efficient and globally marketable aircraft.
6 yen per kilowatt-hour to the cost of nuclear power generation in Japan, providing estimates that will likely affect discussions on whether nuclear power is economically efficient.
For commercial vehicle bodyshops, this provides an economically efficient solution for painting chassis, dumper/tipper bodies and container cars with good corrosion protection and good adhesion.
One is the Public Services Ombudsman for Wales is so economically efficient it should be running all public services.

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