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  • - a field in economics and game theory that takes an engineering approach to designing economic mechanisms or incentives, toward desired objectives, in strategic settings, where players act rationally. Because it starts at the end of the game, then goes backwards, it is also called reverse game theory. It has broad applications, from economics and politics (markets, auctions, voting procedures) to networked-systems (internet interdomain routing, sponsored search auctions). Mechanism design studies solution concepts for a class of private-information games. Leonid Hurwicz explains that 'in a design problem, the goal function is the main "given", while the mechanism is the unknown. Therefore, the design problem is the "inverse" of traditional economic theory, which is typically devoted to the analysis of the performance of a given mechanism.' So, two distinguishing features of these games are: that a game "designer" chooses the game structure rather than inheriting one; that the designer is interested in the game's outcome.

  • - or Pareto optimality is a state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off. The concept is named after Vilfredo Pareto (1848–1923), Italian engineer and economist, who used the concept in his studies of economic efficiency and income distribution.The Pareto frontier is the set of all Pareto efficient allocations, conventionally shown graphically. It also is variously known as the Pareto front or Pareto set.

A Pareto improvement is a change to a different allocation that makes at least one individual or preference criterion better off without making any other individual or preference criterion worse off, given a certain initial allocation of goods among a set of individuals. An allocation is defined as "Pareto efficient" or "Pareto optimal" when no further Pareto improvements can be made, in which case we are assumed to have reached Pareto optimality."Pareto efficiency" is considered as a minimal notion of efficiency that does not necessarily result in a socially desirable distribution of resources: it makes no statement about equality, or the overall well-being of a society. It is simply a statement of impossibility of improving one variable without harming other variables in the subject of multi-objective optimization (also termed Pareto optimization).

Besides economics, the notion of Pareto efficiency has been applied to the selection of alternatives in engineering and biology. Each option is first assessed, under multiple criteria, and then a subset of options is ostensibly identified with the property that no other option can categorically outperform the specified option.In addition to the context of efficiency in allocation, the concept of Pareto efficiency also arises in the context of efficiency in production: a set of outputs of goods is Pareto efficient if there is no feasible re-allocation of productive inputs such that output of one product increases while the outputs of all other goods either increase or remain the same.

  • - a third sector among economies between the private (business) and public sectors (government). It includes organizations such as cooperatives, nonprofit organizations and charities. Social economy theory attempts to situate these organizations into a broader political economic context. In particular it investigates the economic viability of cooperatives and the value of non-profit organizations and charities in traditional economic theory.

  • - A Rich Life without Money. Tips, Blogs, Stories, Books


  • - a series of small tasks which together comprise a large unified project, and are completed by many people over the Internet.[1][2] Microwork is considered the smallest unit of work in a virtual assembly line. It is most often used to describe tasks for which no efficient algorithm has been devised, and require human intelligence to complete reliably. The term was developed in 2008 by Leila Chirayath Janah of Samasource.

Open source

  • - Open-source software is widely used both as independent applications and as components in non-open-source applications. Customers may be willing to use open technology under standard commercial terms and thereby pay for open-source software when additional value is created. This can be the case for legal protection (e.g., indemnification from copyright or patent infringement), "commercial-grade QA", and professional support/training/consulting that are typical of commercial software, while also receiving the benefits of fine-grained control and lack of lock-in that comes with open-source. Open-source software is used as components inside of proprietary, for-profit products and services by many independent software vendors (ISVs), value-added resellers (VARs), and hardware vendors (OEMs or ODMs) in frameworks, modules, and libraries.