Pareto efficiencyPareto efficiency or Pareto optimality is a situation where no action or allocation is available that makes one individual better off without making another worse off. The concept is named after Vilfredo Pareto (1848–1923), Italian civil engineer and economist, who used the concept in his studies of economic efficiency and income distribution. The following three concepts are closely related: Given an initial situation, a Pareto improvement is a new situation where some agents will gain, and no agents will lose.
Business incubatorA business incubator is an organization that helps startup companies and individual entrepreneurs to develop their businesses by providing a fullscale range of services starting with management training and office space and ending with venture capital financing. The National Business Incubation Association (NBIA) defines business incubators as a catalyst tool for either regional or national economic development.
Entrepreneurship ecosystemAn entrepreneurial ecosystems or entrepreneurship ecosystems are peculiar systems of interdependent actors and relations directly or indirectly supporting the creation and growth of new ventures. "Ecosystem" refers to the elements – individuals, organizations or institutions – outside the individual entrepreneur that are conducive to, or inhibitive of, the choice of a person to become an entrepreneur, or the probabilities of his or her success following launch.
CrowdfundingCrowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the internet. Crowdfunding is a form of crowdsourcing and alternative finance. In 2015, over was raised worldwide by crowdfunding. Although similar concepts can also be executed through mail-order subscriptions, benefit events, and other methods, the term crowdfunding refers to internet-mediated registries.
Energy conversion efficiencyEnergy conversion efficiency (η) is the ratio between the useful output of an energy conversion machine and the input, in energy terms. The input, as well as the useful output may be chemical, electric power, mechanical work, light (radiation), or heat. The resulting value, η (eta), ranges between 0 and 1. Energy conversion efficiency depends on the usefulness of the output. All or part of the heat produced from burning a fuel may become rejected waste heat if, for example, work is the desired output from a thermodynamic cycle.
Theory of the firmThe theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, company, or corporation, including its existence, behaviour, structure, and relationship to the market. Firms are key drivers in economics, providing goods and services in return for monetary payments and rewards. Organisational structure, incentives, employee productivity, and information all influence the successful operation of a firm in the economy and within itself.
EmergenceIn philosophy, systems theory, science, and art, emergence occurs when a complex entity has properties or behaviors that its parts do not have on their own, and emerge only when they interact in a wider whole. Emergence plays a central role in theories of integrative levels and of complex systems. For instance, the phenomenon of life as studied in biology is an emergent property of chemistry. In philosophy, theories that emphasize emergent properties have been called emergentism.
Human enhancementHuman enhancement is the natural, artificial, or technological alteration of the human body in order to enhance physical or mental capabilities. Three forms of human enhancement currently exist: reproductive, physical, and mental. Reproductive enhancements include embryo selection by preimplantation genetic diagnosis, cytoplasmictransfer, and in vitro-generated gametes. Physical enhancements include cosmetics (plastic surgery and orthodontics), Drug-induced (doping and performance-enhancing drugs), functional (prosthetics and powered exoskeletons), Medical (implants (e.
EmergentismEmergentism is the belief in emergence, particularly as it involves consciousness and the philosophy of mind. A property of a system is said to be emergent if it is a new outcome of some other properties of the system and their interaction, while it is itself different from them. Within the philosophy of science, emergentism is analyzed both as it contrasts with and parallels reductionism. Emergentism can be compatible with physicalism, the theory that the universe is composed exclusively of physical entities, and in particular with the evidence relating changes in the brain with changes in mental functioning.
Human genetic enhancementHuman genetic enhancement or human genetic engineering refers to human enhancement by means of a genetic modification. This could be done in order to cure diseases (gene therapy), prevent the possibility of getting a particular disease (similarly to vaccines), to improve athlete performance in sporting events (gene doping), or to change physical appearance, metabolism, and even improve physical capabilities and mental faculties such as memory and intelligence.
