Encyclopedia - Equilibrium: Encyclopedia - Equilibrium
Equilibrium may refer to: Equilibrium or sense of balance, which maintains physical balance in humans and animals In the physical scien...   » Read the article

Dictionary - Equilibrium: Hindu - Hinduism Dictionary On Equilibrium
equilibrium: Evenly balanced. A quality of good spiritual leadership. "Having attained an equilibrium of ida and pingala, he beco...   » Read the article

Dictionary - Equilibrium: Oceanography Dictionary - Equilibrium
  Definition and meaning of equilibrium:   equilibrium - the state in which the action of multiple forces produces a stea...   » Read the article

Encyclopedia - Chemical Equilibrium: Encyclopedia - Chemical Equilibrium
Chemical equilibrium is the state in which a chemical reaction proceeds at the same rate as its reverse reaction; the rates of the forwar...   » Read the article

Encyclopedia - 3-d Elasticity: Encyclopedia Ii - 3-d Elasticity - Equilibrium
The 3-D equilibrium equations are as follows: Where σi is the normal stress in the i direction, τij is the shear stress on the i fac...   » Read the article

Encyclopedia - Balance: Encyclopedia - Balance
For meanings of the word balance, see: Sense of balance (equilibrium), which maintains physical balance in humans and animals Balance (p...   » Read the article

Encyclopedia - Balance Of Power: Encyclopedia - Balance Of Power
Balance of power is a central concept in realist theories of international relations. Within a balance of power system, a state may choos...   » Read the article

Encyclopedia - Vapor Pressure: Encyclopedia - Vapor Pressure
The vapor pressure is the pressure (if the vapor is mixed with other gases, the partial pressure) of a vapor (this vapour being formed fr...   » Read the article

Encyclopedia - Coordination Game: Encyclopedia - Coordination Game
The coordination game is a classic (symmetric) two player, two strategy game, with payoff matrix as follows: where A>C and D>B. Rat...   » Read the article

Encyclopedia - Buoyancy: Encyclopedia - Buoyancy
In physics, buoyancy is an upward force on an object immersed in a fluid (i.e. a liquid or a gas), enabling it to float or at least to ap...   » Read the article

Encyclopedia - Chemical Reaction: Encyclopedia - Chemical Reaction
A chemical reaction is a process that results in the interconversion of chemical substances [1]. The substance(s) initially involved in a...   » Read the article

Encyclopedia - Hydrostatic Equilibrium: Encyclopedia Ii - Hydrostatic Equilibrium - Applications
Hydrostatic equilibrium - Fluids. The Hydrostatic equilibrium pertains to hydrostatics and the principles of equilibrium of fluids. A h...   » Read the article

Encyclopedia - Equilibrium Constant: Encyclopedia Ii - Equilibrium Constant - Applications
There are certain implications of the equilibrium constant. If the value is very large, over 1, the reaction is said to lie to the right ...   » Read the article

Encyclopedia - General Equilibrium: Encyclopedia Ii - General Equilibrium - Properties And Characterization Of General Equilibrium
(see also Two fundamental theorems of welfare economics) Basic questions in general equilibrium analysis are concerned with the condition...   » Read the article

Encyclopedia - Nash Equilibrium: Encyclopedia Ii - Nash Equilibrium - Stability
The concept of stability, useful in the analysis of many kinds of equilibrium can also be applied to Nash equilibria. A Nash equilibrium ...   » Read the article

Encyclopedia - Nash Equilibrium: Encyclopedia Ii - Nash Equilibrium - Stability
The concept of stability, useful in the analysis of many kinds of equilibrium can also be applied to Nash equilibria. A Nash equilibrium ...   » Read the article

Encyclopedia - Nash Equilibrium: Encyclopedia Ii - Nash Equilibrium - Stability
The concept of stability, useful in the analysis of many kinds of equilibrium, can also be applied to Nash equilibria. A Nash equilibrium...   » Read the article

Encyclopedia - Punctuated Equilibrium: Encyclopedia Ii - Punctuated Equilibrium - Misconceptions
Punctuated equilibrium is often confused with saltationism and catastrophism (and with the phenomenon of mass extinctions), and thus mist...   » Read the article

Encyclopedia - Nash Equilibrium: Encyclopedia Ii - Nash Equilibrium - Examples
Nash equilibrium - Competition game. Consider the following two-player game: both players simultaneously choose a whole number from 0 t...   » Read the article

Encyclopedia - Nash Equilibrium: Encyclopedia Ii - Nash Equilibrium - Examples
Nash equilibrium - Competition game. Consider the following two-player game: both players simultaneously choose a whole number from 0 t...   » Read the article

Encyclopedia - General Equilibrium: Encyclopedia Ii - General Equilibrium - Unresolved Problems In General Equilibrium
Research building on the Arrow-Debreu model has revealed some problems with the model. The Sonnenschein-Mantel-Debreu results show that, ...   » Read the article

Encyclopedia - General Equilibrium: Encyclopedia Ii - General Equilibrium - Unresolved Problems In General Equilibrium
Research building on the Arrow-Debreu model has revealed some problems with the model. The Sonnenschein-Mantel-Debreu results show that, ...   » Read the article

Encyclopedia - General Equilibrium: Encyclopedia Ii - General Equilibrium - Modern Concept Of General Equilibrium In Economics
The modern conception of general equilibrium is provided by a model developed jointly by Kenneth Arrow and Gerard Debreu in the 1950s. Ge...   » Read the article

Encyclopedia - General Equilibrium: Encyclopedia Ii - General Equilibrium - Modern Concept Of General Equilibrium In Economics
The modern conception of general equilibrium is provided by a model developed jointly by Kenneth Arrow and Gerard Debreu in the 1950s. Ge...   » Read the article

Encyclopedia - Correlated Equilibrium: Encyclopedia Ii - Correlated Equilibrium - An Example
Consider the game of chicken (pictured to the right). In this game two individuals are challenging each other to a contest where each can...   » Read the article

Encyclopedia - General Equilibrium: Encyclopedia Ii - General Equilibrium - History Of General Equilibrium Modelling
The first attempt in Neoclassical economics to model prices for a whole economy was made by Leon Walras. Walras' Elements of Pure Economi...   » Read the article

Encyclopedia - General Equilibrium: Encyclopedia Ii - General Equilibrium - History Of General Equilibrium Modelling
The first attempt in Neoclassical economics to model prices for a whole economy was made by Leon Walras. Walras' Elements of Pure Economi...   » Read the article

Encyclopedia - Nash Equilibrium: Encyclopedia Ii - Nash Equilibrium - Occurrence
If a game has a unique Nash equilibrium and is played among players with certain characteristics, then it is true (by definition of these...   » Read the article

Encyclopedia - Nash Equilibrium: Encyclopedia Ii - Nash Equilibrium - Occurrence
If a game has a unique Nash equilibrium and is played among players with certain characteristics, then it is true (by definition of these...   » Read the article

Encyclopedia - Punctuated Equilibrium: Encyclopedia Ii - Punctuated Equilibrium - The Theory
Punctuated equilibria relies heavily on Ernst Mayr's concept of peripatric speciation and was articulated as a distinct theory by Niles E...   » Read the article

Encyclopedia - Equilibrium Price: Encyclopedia Ii - Equilibrium Price - Solving For Equilibrium Price
To solve for the equilibrium price, one must either plot the supply and demand curves, or solve for their equations being equal. An examp...   » Read the article

Encyclopedia - General Equilibrium: Encyclopedia Ii - General Equilibrium - Modern Concept Of General Equilibrium In Economics
The modern conception of general equilibrium is provided by a model developed jointly by Kenneth Arrow and Gerard Debreu in the 1950s. Ge...   » Read the article

Encyclopedia - General Equilibrium: Encyclopedia Ii - General Equilibrium - Unresolved Problems In General Equilibrium
Research building on the Arrow-Debreu model has revealed some problems with the model. The Sonnenschein-Mantel-Debreu results show that, ...   » Read the article

Encyclopedia - Equilibrium Constant: Encyclopedia Ii - Equilibrium Constant - Reaction Conditions
A typical equilibrium situation is as below: kA(aq) + mB(aq) ⇌ nC(aq) + pD(aq) when the forward reaction is occurring at the same rat...   » Read the article

Encyclopedia - General Equilibrium: Encyclopedia Ii - General Equilibrium - History Of General Equilibrium Modelling
The first attempt in Neoclassical economics to model prices for a whole economy was made by Leon Walras. Walras' Elements of Pure Economi...   » Read the article

Encyclopedia - Equilibrium Constant: Encyclopedia Ii - Equilibrium Constant - Reaction Conditions
A typical equilibrium situation is as below: when the forward reaction is occurring at the same rate as the reverse reaction. For simp...   » Read the article

Dictionary - Chemical Equilibrium: Oceanography Dictionary - Chemical Equilibrium
  Definition and meaning of chemical equilibrium:   chemical equilibrium - the state in which a chemical reaction proceed...   » Read the article

Dictionary - Punctuated Equilibrium: Oceanography Dictionary - Punctuated Equilibrium
  Definition and meaning of punctuated equilibrium:   punctuated equilibrium - an evolutionary model in which change occ...   » Read the article

Encyclopedia - Solubility Equilibrium: Encyclopedia Ii - Solubility Equilibrium - Ionic Compounds
Ionic compounds normally dissociate into their constituent ions when they dissolve in water. For example, for calcium sulfate: As for ...   » Read the article

Encyclopedia - Equilibrium 2002 Film: Encyclopedia Ii - Equilibrium 2002 Film - Plot
Equilibrium is set some time in the future, in the dystopian city-state of Libria. The film explains how, in the early years of the twent...   » Read the article

Encyclopedia - Punctuated Equilibrium: Encyclopedia Ii - Punctuated Equilibrium - Relation To Darwinism
The sudden appearance and lack of substantial gradual change of perhaps most species in the geologic record, from their initial appearanc...   » Read the article

Encyclopedia - Solubility Equilibrium: Encyclopedia Ii - Solubility Equilibrium - Non-ionic Compounds
Dissolution of an organic solid can be described as an equilibrium between the substance in its solid and dissolved forms: We can writ...   » Read the article

Encyclopedia - Equilibrium 2002 Film: Encyclopedia Ii - Equilibrium 2002 Film - Literary References
Equilibrium contains many references to similar works of dystopian fiction, most notably George Orwell's Nineteen Eighty-Four and Aldous ...   » Read the article

Encyclopedia - Nash Equilibrium: Encyclopedia Ii - Nash Equilibrium - Formal Definition And Existence Of Nash Equilibria
Let (S, f) be a game, where S is the set of strategy profiles and f is the set of payoff profiles. When each player chooses strategy re...   » Read the article

Encyclopedia - Nash Equilibrium: Encyclopedia Ii - Nash Equilibrium - Formal Definition And Existence Of Nash Equilibria
Let (S, f) be a game, where S is the set of strategy profiles and f is the set of payoff profiles. When each player chooses strategy re...   » Read the article

Encyclopedia - Non-equilibrium Thermodynamics: Encyclopedia Ii - Non-equilibrium Thermodynamics - Basic Concepts
The basic thermodynamic potential in equilibrium thermodynamics is, depending on the conditions, the internal energy (U) or a variation s...   » Read the article

Encyclopedia - Cournot Competition: Encyclopedia Ii - Cournot Competition - Calculating The Equilibrium
In very general terms, let the price function for the (duopoly) industry be P(q1 + q2) and firm i have the cost structure Ci(qi). To calc...   » Read the article

Encyclopedia - Equilibrium Price: Encyclopedia Ii - Equilibrium Price - Influences Changing Price
A change in equilibrium price will occur through a change in either the supply or demand schedules. For instance, and increase in demand ...   » Read the article

Encyclopedia - Classical General Equilibrium Model: Encyclopedia Ii - Classical General Equilibrium Model - Labor Supply
The suppliers of the labor market are households. A household can be thought of as the summation of all the individuals within the househ...   » Read the article

Encyclopedia - Classical General Equilibrium Model: Encyclopedia Ii - Classical General Equilibrium Model - Labor Demand
The consumers of the labor market are firms. The demand for labor services is a derived demand, derived from the supply and demand for th...   » Read the article

Encyclopedia - Buoyancy: Encyclopedia Ii - Buoyancy - Forces And Equilibrium
The buoyancy provides an upward force on the object. According to Newton's first law of motion, if the upward forces (including the buoya...   » Read the article

Encyclopedia - Buoyancy: Encyclopedia Ii - Buoyancy - Forces And Equilibrium
The buoyancy provides an upward force on the object. According to Newton's first law of motion, if the upward forces (including the buoya...   » Read the article

Encyclopedia - Solution Concept: Encyclopedia Ii - Solution Concept - Nash Equilibrium
Main article: Nash equilibrium A Nash equilibrium is a strategy profile (a strategy profile specifies a strategy for every player, e.g...   » Read the article

Encyclopedia - Subgame Perfect Equilibrium: Encyclopedia Ii - Subgame Perfect Equilibrium - Finding Subgame Perfect Equilibria
Reinhard Selten proved that any game which can be broken into "sub-games" containing a sub-set of all the available choices in the main g...   » Read the article

Encyclopedia - Centipede Game: Encyclopedia Ii - Centipede Game - Equilibrium Analysis
Determining that defection by the first player is the unique Nash equilibrium can be established by backward induction. Suppose we reach ...   » Read the article

Encyclopedia - Cournot Competition: Encyclopedia Ii - Cournot Competition - Graphically Finding The Cournot Duopoly Equilibrium
Equilibrium prices will be: p1 = p2 = P(q1+q2) This implies that firm i’s profit is given by Calculate firm 1’s residual demand: ...   » Read the article

Encyclopedia - Membrane Potential: Encyclopedia Ii - Membrane Potential - Equilibrium Potentials
An equilibrium potential is the membrane voltage at which a particular ion is in equilibrium. The equilibrium potential (also called reve...   » Read the article

Encyclopedia - Balance Of Power: Encyclopedia Ii - Balance Of Power - A Doctrine Of Equilibrium
A balance of power exists when there is parity or stability between competing forces. As a term in international law for a 'just equilibr...   » Read the article

Encyclopedia - Non-equilibrium Thermodynamics: Encyclopedia Ii - Non-equilibrium Thermodynamics - Entropy Production The Second Law And The Onsager Relations
The time-variation of the entropy is then equal to Here, Σi IiJi is a reversible entropy flow (resulting in entropy transfer through ...   » Read the article

Encyclopedia - Solution Concept: Encyclopedia Ii - Solution Concept - Perfect Bayesian Equilibrium
Main article: Bayesian game Sometimes subgame perfection does not impose large enough restriction on unreasonable outcomes. For exampl...   » Read the article

Encyclopedia - Ultimatum Game: Encyclopedia Ii - Ultimatum Game - Equilibrium Analysis
For illustration, we will suppose there is a smallest division of the good available (say 1 cent). Suppose that the total amount of money...   » Read the article

Encyclopedia - Solution Concept: Encyclopedia Ii - Solution Concept - Subgame Perfect Nash Equilibrium
Main article: Subgame perfect equilibrium A generalisation of backward induction is subgame perfection. Backward induction assumes tha...   » Read the article

Encyclopedia - Nash Bargaining Game: Encyclopedia Ii - Nash Bargaining Game - Equilibrium Analysis
Strategies are represented in the Nash bargaining game by an pair (x, y). x and y are selected from the interval [0, z], where z is the t...   » Read the article

Encyclopedia - Bayesian Game: Encyclopedia Ii - Bayesian Game - Bayesian Nash Equilibrium
In a non-Bayesian game, a strategy profile is a Nash equilibrium if every strategy in that profile is a best response to every other stra...   » Read the article

Encyclopedia - Law Of Value: Encyclopedia Ii - Law Of Value - Is It An Equilibrium Theory?
Some authors have interpreted Marx's law of value as a theory of market equilibrium. However, Marx offered no theory of market equilibriu...   » Read the article

Encyclopedia - Flexibility Method: Encyclopedia Ii - Flexibility Method - Nodal Equilibrium Equations
To resolve this difficulty, first we make use of the nodal equilibrium equations in order to reduce the number of independent unknown mem...   » Read the article

Encyclopedia - Haber Process: Encyclopedia Ii - Haber Process - Equilibrium And The Haber Process
The reaction of nitrogen and hydrogen (1) is reversible, meaning the reaction can proceed in either the forward or the reverse direction ...   » Read the article

Encyclopedia - Bénard Cells: Encyclopedia Ii - Bénard Cells - Equilibrium And Thermal Conduction
At first, the temperature of the bottom plane is the same as the top plane. The liquid will go towards an equilibrium, where its temperat...   » Read the article

Encyclopedia - Phase Matter: Encyclopedia Ii - Phase Matter - Phase Equilibrium
The distribution of kinetic energy among molecules is not uniform, and it changes randomly. This means that at, say, the surface of a liq...   » Read the article

Encyclopedia - Diner's Dilemma: Encyclopedia Ii - Diner's Dilemma - Formal Definition And Equilibrium Analysis
Let g represent the joy of eating the expensive meal, b the joy of eating the cheap meal, h is the cost of the expensive meal, l the cost...   » Read the article

Encyclopedia - Non-equilibrium Thermodynamics: Encyclopedia Ii - Non-equilibrium Thermodynamics - Flows And Forces
Suppose that entropy S is given as a function of a collection of extensive variables Ei. Each extensive variable has a conjugate intensiv...   » Read the article

Encyclopedia - Signaling Games: Encyclopedia Ii - Signaling Games - Definition Of Perfect Bayesian Equilibrium Of The Signaling Game
A sender of type ,tj sends a message m * (tj) in the set of probability distributions over M (a mixed message!). (m(tj) represents the pr...   » Read the article

Encyclopedia - Bénard Cells: Encyclopedia Ii - Bénard Cells - Far From Equilibrium: Convection And Turbulence
If we progressively increase the temperature of the bottom plane, there will be a temperature at which something dramatic happens in the ...   » Read the article

Encyclopedia - Milford H. Wolpoff: Encyclopedia Ii - Milford H. Wolpoff - Multiregional Evolution And The Punctuated Equilibrium Theory
Wolpoff suggests that after an African origin of Homo sapiens (evolving from Homo ergaster/Homo erectus), local evolutionary events took ...   » Read the article

Encyclopedia - Fixed Point Mathematics: Encyclopedia Ii - Fixed Point Mathematics - Applications
In many fields, equilibrium or stability are fundamental concepts that can be described in terms of fixed points. For example, in economi...   » Read the article

Encyclopedia - History Of Evolutionary Thought: Encyclopedia Ii - History Of Evolutionary Thought - 1960s-1980s: Williams Revolution Punctuated Equilibrium
Coined after the evolutionary biologist, George C. Williams, the Williams revolution is a paradigm shift which occurred in evolutionary b...   » Read the article

Encyclopedia - Self-ionization Of Water: Encyclopedia Ii - Self-ionization Of Water - Concentration And Frequency
The preceding reaction has a chemical equilibrium constant. For reactions in water (or any aqueous solutions), the molarity (a unit of co...   » Read the article

Encyclopedia - Solution Concept: Encyclopedia Ii - Solution Concept - Backward Induction
Main article: Backward induction There are games that have multiple Nash equilibria, some of which are unrealistic. In the case of dyn...   » Read the article

Encyclopedia - Solution Concept: Encyclopedia Ii - Solution Concept - Rationalizability & Iterated Dominance
Main article: Rationalisability In this solution concept, players are assumed to be rational and so strictly dominated strategies are ...   » Read the article

Encyclopedia - Bayesian Game: Encyclopedia Ii - Bayesian Game - A Signalling Example
Signalling games constitute an example of Bayesian games. In such a game, the informed party (the agent) knows their type, whereas the un...   » Read the article

Encyclopedia - 3-d Elasticity: Encyclopedia Ii - 3-d Elasticity - Strain-displacement Equations
The 3-D strain-displacement equations are as follows: Where εi is the normal strain in the i direction, γij is the shear strain i...   » Read the article

Encyclopedia - Signaling Games: Encyclopedia Ii - Signaling Games - Applications Of Signaling Games
The first application of signaling games to economic problems was Spence's model of job market signaling (1973). Spence describes a game ...   » Read the article

Encyclopedia - Bayesian Game: Encyclopedia Ii - Bayesian Game - Specification Of Games
The normal form representation of a non-Bayesian game with perfect information is a specification of the strategy spaces and payoff funct...   » Read the article

Encyclopedia - Chemical Reaction: Encyclopedia Ii - Chemical Reaction - Thermochemistry
See main article: Thermochemistry. Thermochemistry deciphers whether a specific chemical reaction can or cannot occur. Thermodynamics (or...   » Read the article

Encyclopedia - Chemical Reaction: Encyclopedia Ii - Chemical Reaction - Chemical Kinetics
See main article: Chemical kinetics. The rate of a chemical reaction is a measure of how the concentration of the involved substances cha...   » Read the article

Encyclopedia - Balance Of Power: Encyclopedia Ii - Balance Of Power - Historical Perspective
Universalism, which was the dominant direction of European international relations prior to the Peace of Westphalia, gave way to the doct...   » Read the article

Encyclopedia - Lotka-volterra Equation: Encyclopedia Ii - Lotka-volterra Equation - Dynamics Of The System
In the model system, the predators thrive when there are plentiful prey but, ultimately, outstrip their food supply and decline. As the p...   » Read the article

Encyclopedia - Ultimatum Game: Encyclopedia Ii - Ultimatum Game - Variants
In the “Competitive Ultimatum game” there are many proposers and the responder can accept at most one of their offers: With more than...   » Read the article

Encyclopedia - Health Economics: Encyclopedia Ii - Health Economics - Ideology And Health
Health economics - Competitive equilibrium in the five health markets. While the nature of healthcare as a private good is preserved in...   » Read the article

Encyclopedia - Flexibility Method: Encyclopedia Ii - Flexibility Method - Member Flexibility
Flexibility is the inverse of stiffness. For example, consider a spring that has Q and q as, respectively, its force and deformation: Th...   » Read the article

Encyclopedia - Vapor Pressure: Encyclopedia Ii - Vapor Pressure - Water Vapor Pressure
The boiling temperature of water for pressures around 100 kPa can be approximated by where the temperature is in degrees Celsius and the...   » Read the article

Encyclopedia - Ultimatum Game: Encyclopedia Ii - Ultimatum Game - Sociological Applications
The split dollar game is important from a sociological perspective, because it illustrates the human willingness to accept injustice and ...   » Read the article

Encyclopedia - Guess 2/3 Of The Average: Encyclopedia Ii - Guess 2/3 Of The Average - Experimental Results
This game is a common demonstration in game theory classes, where even economics graduate students fail to guess 0. When performed among ...   » Read the article

Encyclopedia - Torque: Encyclopedia Ii - Torque - Special Cases And Other Facts
Torque - Moment arm formula. A very useful special case, often given as the definition of torque in fields other than physics, is as fo...   » Read the article

Encyclopedia - Chemical Reaction: Encyclopedia Ii - Chemical Reaction - Reaction Types
There are five major classifications of chemical reactions. Some common and widely used terms are: Isomerization in which a chemical com...   » Read the article

Encyclopedia - Chemical Reaction: Encyclopedia Ii - Chemical Reaction - Reaction Types
There are five major classifications of chemical reactions. Some common and widely used terms are: Isomerization in which a chemical com...   » Read the article

Encyclopedia - Ultimatum Game: Encyclopedia Ii - Ultimatum Game - Explanations
The classical explanation of the Ultimatum game as a well-formed experiment approximating general behaviour often leads to a conclusion t...   » Read the article

Encyclopedia - Chemical Reaction: Encyclopedia Ii - Chemical Reaction - Reaction Types
There are five major classifications of chemical reactions. Some common and widely used terms are: Isomerisation in which a chemical com...   » Read the article

Encyclopedia - Flexibility Method: Encyclopedia Ii - Flexibility Method - Advantages And Disadvantages
While the choice of redundants in (4) appears to be arbitrary and troublesome for automatic computation, this objection can be overcome b...   » Read the article

Encyclopedia - Guess 2/3 Of The Average: Encyclopedia Ii - Guess 2/3 Of The Average - Rationality Versus Common Knowledge Of Rationality
This game illustrates the difference between perfect rationality of an actor and the common knowledge of rationality of all players. Even...   » Read the article