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 ?
The increase in heat production and heat storage during moderate exercise in warm environment resulted in aggravated hyperthermia linked with lower mechanical efficiency.
The mechanical efficiency also improves, because the friction at the seal ring is eliminated.
Further research is now necessary to fit force-generation strategies, movement pattern, and muscleactivation pattern into this four-quadrant model and to study the influence of various internal and external conditions, such as functional potential of the user, handbike configuration, and handbike-user interface on these biomechanical parameters and mechanical efficiency.
To eliminate this limitation and increase the mechanical efficiency of the dampers, wires with a certain pre-stress can be used.
3) Increase mechanical efficiency of propulsion and braking
Torvec said it believes EPA's determination of mechanical efficiency will "establish the superiority of Torvec's hydraulic pump/motor compared to any other piston-pump available today.
Sour grapes aside, Kasparov's defeat, to many people, seemed like just another way in which human achievement was being overtaken by cool mechanical efficiency.
The Black Bruin 4-speed motor design provides the same mechanical efficiency in both driving directions (clockwise and counter-clockwise) at full and partial displacements.
power, impulse) and mechanical efficiency are increased; and muscle stiffness and motoneural activation are up-regulated.
has been developed with the ready meal food processor in mind, and thus concentrated on essential requirements such as flexibility, versatility, product integrity, ease of cleaning, overall mechanical efficiency and low downtime.
Among my adolescent souvenirs float vague recollections of science-fiction stories in which some stranded space traveler happens on a vast, beautiful city that, void of all inhabitants, somehow continues to run with perfect mechanical efficiency long after the disappearance of its builders.
This formula assumes that the effective pressure is 90 pounds per square inch, that the piston speed is 1000 feet per minute and the mechanical efficiency is 75 percent.

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