efficiency

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Efficiency

The degree and speed with which a market accurately incorporates information into prices.

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.

efficiency

the relationship between the quantities of factor inputs (labour, materials, etc.) used by a firm and the quantity of output which it is able to produce using these inputs. Where a firm is able to produce the same output using fewer inputs or produce more output using the same quantity of inputs then it has improved its efficiency See PRODUCTIVITY.

efficiency

the relationship between scarce FACTOR INPUTS and OUTPUTS of goods and services. This relationship can be measured in physical terms (TECHNOLOGICAL EFFICIENCY) or cost terms (ECONOMIC EFFICIENCY). The concept of efficiency is used as a criterion in judging how well MARKETS have allocated resources. See MARKET PERFORMANCE, RESOURCE ALLOCATION, ECONOMIZE.
References in periodicals archive ?
In light of the study limitations, our results suggest that the nature of the exercise testing protocol influences mechanical efficiency during exercise in women with CFS.
(1992) Load and velocity of contraction influence gross and delta mechanical efficiency. International Journal of Sports Medicine 13, 407-411.
In addition, the effects of combined motor and mechanical efficiency and heat transfer on volumetric efficiency are negligible.
Mechanical efficiency involves losses in energy that occur due to rubbing of parts, seal friction, viscous drag, etc.
Mechanical efficiency is further optimised by a variable- displacement oil pump that reduces hydraulic power requirements by up to 30 per cent compared to a conventional pump.
where [P.sub.a] is the absorbed power by the fuel high-pressure pump in the specific operating point, [P.sub.motored] is the absorbed power in motoring conditions (without fuel pressurization and injection), [[eta].sub.pump] is the mechanical efficiency of the pump, and [Q.sub.fuel] is the total elaborated fuel quantity.
The torque-displacement characteristics of the new clutch can be received which the input torque of the clutch and the output torque of the transmission can be tested using the mechanical efficiency instrument.
Isentropic efficiency [29] and mechanical efficiency of the compressor can be used to evaluate exergy efficiency of compressor.
Maximum mechanical efficiency is guaranteed by the use of high-resistance aluminium alloy pistons and con rods with innovative geometries and specially-shaped high-tumble intake manifolds.
The total efficiency of an oil pump is the product of two items: its mechanical efficiency (i.e., sliding friction) and volumetric (pumping) efficiency.
H&V's Nanowave delivers maximum mechanical efficiency with a step change in low airflow resistance while more than doubling dust holding capacity compared to standard, flat sheet synthetic media.
The Drum Motor has the motor and gearbox in-line inside the drum which results in 96% mechanical efficiency, energy cost and consumption savings, operator safety, positive ROI, zero maintenance intervals and superior drive life expectancy when compared to externally mounted motor and gearbox.

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