In the early 1950s, Armand set aside his dream to focus on developing his company's other tracked vehicles, but by the end of the decade, smaller, more efficient engines had been developed and were starting to come onto the market.

According to Anthony Quinton, classical liberals believe that " an unfettered market " is the most efficient mechanism to satisfy human needs and channel resources to their most productive uses: they " are more suspicious than conservatives of all but the most minimal government.

Economic theory may also specify conditions such that supply and demand through the market is an efficient mechanism for allocating resources.

Since at least the 1960s, macroeconomics has been characterized by further integration as to micro-based modeling of sectors, including rationality of players, efficient use of market information, and imperfect competition.

It is also a justification for free trade policies, since some economies of scale may require a larger market than is possible within a particular country — for example, it would not be efficient for Liechtenstein to have its own car maker, if they would only sell to their local market.

Very shortly after a new wave of more compact, faster and efficient fax machines would hit the market.

Friedrich Hayek argues for the classical liberal view that market economies allow spontaneous order ; that is, " a more efficient allocation of societal resources than any design could achieve.

The free market is believed to self-regulate in the most efficient and just way.

Microeconomics analyzes market failure, where markets fail to produce efficient results, and describes the theoretical conditions needed for perfect competition.

In such cases, economists may attempt to find policies that will avoid waste, either directly by government control, indirectly by regulation that induces market participants to act in a manner consistent with optimal welfare, or by creating " missing markets " to enable efficient trading where none had previously existed.

The industrial fishing operations struggle with high costs, and Senegalese tuna is rapidly losing the French market to more efficient Asian competitors.

Consumers are benefited by the single market in the sense that the competitive environment brings them cheaper products, more efficient providers of products and also increased choice of products.

Enterprises that previously enjoyed national market protection and national subsidy ( and could therefore continue in business despite falling short of international performance benchmarks ) may struggle to survive against their more efficient peers, even for its traditional markets.

Official corruption is endemic, and Vietnam lags in property rights, efficient regulation of markets, and labor and financial market reforms.

The Bardham and Roemer model satisfied the main requirements of both Socialism ( workers own all the factors of productionnot just labour ) and market economies ( prices determine efficient allocation of resources ).

The company does not take any explicit action to adjust its stock price ; in an efficient market, buyers and sellers will automatically price this in.

For instance, if a change in economic policy eliminates a monopoly and that market subsequently becomes competitive and more efficient, the monopolist will be made worse off.

A classic definition influenced by Kenneth Arrow and James Meade is provided by Heller and Starrett ( 1976 ), who define an externality as “ a situation in which the private economy lacks sufficient incentives to create a potential market in some good and the nonexistence of this market results in losses of Pareto efficiency .” In economic terminology, externalities are examples of market failures, in which the unfettered market does not lead to an efficient outcome.

A positive relationship between firm profits and market structure is attributed to the gains made in market share by more efficient firms, but not to the collusive activities, as the traditional SCP paradigm would suggest ( Molyneux and Forbes, 1995 ).

In Holland, the Dutch Republic ’ s 17th-century ( 1609 – 1672 ) mercantilist dominion was a first instance of global, commercial hegemony, made feasible with its technological development of wind power and its Four Great Fleets, for the efficient production and delivery of goods and services, which, in turn, made possible its Amsterdam stock market and concomitant dominance of world trade ; in France, King Louis XIV ( 1638 – 1715 ) and ( Emperor ) Napoleon I ( 1799 – 1815 ) established French hegemony via economic, cultural, and military domination of most of Continental Europe.

He presented this ' provisional hypothesis ' in his 1868 work The Variation of Animals and Plants under Domestication and felt that it brought ' together a multitude of facts which are at present left disconnected by any efficient cause '.

An alternative hypothesis is that some of the genes that enable males to develop impressive ornaments or fighting ability may be correlated with fitness markers such as disease resistance or a more efficient metabolism.

There are two competing hypotheses in the SCP paradigm: the traditional “ structure performance hypothesis ” and “ efficient structure hypothesis ”.

Indeed, given the efficient market hypothesis, which implies that a thorough analysis of stock data is irrational, most rational shareholders are, by definition, not investors, but speculators.

A common assumption is that financial decision makers act rationally ( see Homo economicus ; efficient market hypothesis ).

Rational expectations theory is the basis for the efficient market hypothesis ( efficient market theory ).

It can be argued that it is difficult to apply the standard efficient market hypothesis ( efficient market theory ) to understand the stock market bubble that ended in 2000 and collapsed thereafter ; however, advocates of rational expectations say that the problem of ascertaining all the pertinent effects of the stock-market crash is a great challenge.

The classic hypothesis is that cooler temperature of the testes allows for more efficient fertile spermatogenesis.

" Informally, hypothesis boosting problem asks whether an efficient learning algorithm that outputs an hypothesis whose performance is only slightly better than random guessing a weak learner implies the existence of an efficient algorithm that outputs an hypothesis of arbitrary accuracy a strong learner.

The school has impacted the field of finance by the development of the efficient market hypothesis.

At the same time, the efficient market hypothesis assumed that, because of catallaxy, the market could not be informationally wrong.

The random walk hypothesis may be derived from the weak-form efficient markets hypothesis, which is based on the assumption that market participants take full account of any information contained in past price movements ( but not necessarily other public information ).

In finance, the efficient-market hypothesis ( EMH ) asserts that financial markets are " informationally efficient ".

In response, proponents of the hypothesis have stated that market efficiency does not mean having no uncertainty about the future, that market efficiency is a simplification of the world which may not always hold true, and that the market is practically efficient for investment purposes for most individuals.

Any test of this proposition faces the joint hypothesis problem, where it is impossible to ever test for market efficiency, since to do so requires the use of a measuring stick against which abnormal returns are compared-one cannot know if the market is efficient if one does not know if a model correctly stipulates the required rate of return.

" efficient market hypothesis ," The New Palgrave: A Dictionary of Economics, v. 2, pp. 120 – 23.

The traditional answer to this problem is the efficient market hypothesis ( in finance, the efficient market hypothesis ( EMH ) asserts that financial markets are efficient ), which suggests that the small shareholder will free ride on the judgments of larger professional investors.

The principle asserts that no two species with similar ecological niches can coexist in a stable equilibrium, meaning that when two species compete for exactly the same requirements, one will be slightly more efficient than the other and will reproduce at a higher rate as a result.

The implementation of the Convention is managed through an international Commission headquartered in Hobart, Australia by an efficient system of annual fishing quotas, licenses and international inspectors on the fishing vessels, as well as satellite surveillance.

Conflict-driven solvers augment the basic DPLL search algorithm with efficient conflict analysis, clause learning, non-chronological backtracking ( aka backjumping ), as well as " two-watched-literals " unit propagation, adaptive branching, and random restarts.

UTF-16 or UTF-32, which can be used for all languages as well, are less widely used because they can be harder to handle in programming languages that assume a byte-oriented ASCII superset encoding, and they are less efficient for text with a high frequency of ASCII characters, which is usually the case for HTML documents.

More efficient caches compute use frequency against the size of the stored contents, as well as the latencies and throughputs for both the cache and the backing store.

This works well for larger amounts of data, longer latencies and slower throughputs, such as experienced with a hard drive and the Internet, but is not efficient for use with a CPU cache.

Schemes based on these primitives provide efficient identity-based encryption as well as pairing-based signatures, signcryption, key agreement, and proxy re-encryption.

) using ultrasound or magnetic resonance imaging, as well as of developing new types of nanoparticles that make them particularly efficient absorbers while offering little or no concerns about toxicity to the circulation system.

As well as the construction of the Fairfax campuses network of hot and cold water piping that provides power efficient, centralized heating and cooling for the university's buildings.

In terms of international comparison, with the most efficient and corruption-free application procedure, lowest income tax and lowest corporate tax as well as abundant and sustainable government finance that the government of Hong Kong consistently upheld the policy of encouraging ( and supporting ) activities of private businesses and this is having a sound impact on the overall economic performance by removing unnecessary barriers for the private enterprises in the Special Administrative Region.

The ITU-T mission is to ensure the efficient and timely production of standards covering all fields of telecommunications on a worldwide basis, as well as defining tariff and accounting principles for international telecommunication services.

Introns contain several short sequences that are important for efficient splicing, such as acceptor and donor sites at either end of the intron as well as a branch point site, which are required for proper splicing by the spliceosome.

However, Drexler addresses this in Nanosystems by showing mathematically that well designed catalysts can provide the effects of a solvent and can fundamentally be made even more efficient than a solvent / enzyme reaction could ever be.

While very efficient, the need for powerful instruction sets with multi-step addressing and complex operations ( see below ) made such " hard-wired " processors difficult to design and debug ; highly encoded and varied-length instructions can contribute to this as well, especially when very irregular encodings are used.

Protomorphous solar cells prove to be a promising concept for efficient and low-cost photovoltaics on cheap and flexible substrates for large-area production as well as small and mobile applications.

Six fast legs, four well developed folding wings, fairly good eyes, long, well developed antennae ( olfactory ), an omnivorous digestive system, a receptacle for storing sperm, a chitin-based exoskeleton that could support and protect, as well as a form of gizzard and efficient mouth parts, gave it formidable advantages over other herbivorous animals.

Agro-processing involved a large number of small, inefficient, and often family-run firms as well as a small number of large, efficient, and usually foreign-owned firms.

However, efficient firms can benefit from economies of scale, increased competitiveness and lower costs, as well as expect profitability to be a result.

" There is considerable academic debate about whether vicarious liability is justified on no better basis than the search for a solvent defendant, or whether it is well founded on the theory of efficient risk allocation.

Topography of the site and efficient site utilization should be considered as well.

Formulae for the basic dimensions of turbine parts are well documented and a highly efficient machine can be reliably designed for any fluid flow condition.

The benefit is that the heating can be controlled very well and it is energy efficient.

The capability to efficiently hover for extended periods of time is due to the helicopter's relatively long, and hence efficient rotor blades, and allows a helicopter to accomplish tasks that fixed-wing aircraft and other forms of vertical takeoff and landing aircraft could not perform at least as well until 2011.

This gives aerodynamic lift as well as thrust lift and permits taking off with heavier loads and is more efficient.