Efficiency
The late Paul Heyne writes about efficiency for The
Concise Encyclopedia of Economics:
www.econlib.org/library/Enc/Efficiency.html
tutor2u.net organizes its explanation of efficiency
differently than the way CyberEconomics explains
efficiency:
www.tutor2u.net/economics/content/topics/competition/efficiency.htm
(I have not yet found appropriate readings for these
topics.)
tutor2u.net defines three types of efficiency that are
equivalents to the three conditions of efficiency explained
in CyberEconomics, but gives them slightly different
names. For example, what CyberEconomics calls
product-mix efficiency tutor2u.net calls allocative
efficiency:
www.tutor2u.net/economics/content/topics/introduction/production_possibility_frontiers.htm
One of the assumptions needed to make economic efficiency
meaningful is the assumption that consumer sovereignty is a
good thing. We must accept the values that people put on
things as being legitimate. This entry at amosweb explains
what consumer sovereignty is, but does not go much
further:
www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=consumer+sovereignty
These links were checked on July 5, 2008
  
Copyright
Robert Schenk
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