Adverse selectionIn economics, insurance, and risk management, adverse selection is a market situation where buyers and sellers have different information. The result is the unequal distribution of benefits to both parties, with the party having the key information benefiting more. In an ideal world, buyers should pay a price which reflects their willingness to pay and the value to them of the product or service, and sellers should sell at a price which reflects the quality of their goods and services.
Classical liberalismClassical liberalism is a political tradition and a branch of liberalism that advocates free market and laissez-faire economics; and civil liberties under the rule of law, with special emphasis on individual autonomy, limited government, economic freedom, political freedom and freedom of speech. Classical liberalism, contrary to liberal branches like social liberalism, looks more negatively on social policies, taxation and the state involvement in the lives of individuals, and it advocates deregulation.
Shielding effectIn chemistry, the shielding effect sometimes referred to as atomic shielding or electron shielding describes the attraction between an electron and the nucleus in any atom with more than one electron. The shielding effect can be defined as a reduction in the effective nuclear charge on the electron cloud, due to a difference in the attraction forces on the electrons in the atom. It is a special case of electric-field screening. This effect also has some significance in many projects in material sciences.
Effective nuclear chargeIn atomic physics, the effective nuclear charge is the actual amount of positive (nuclear) charge experienced by an electron in a multi-electron atom. The term "effective" is used because the shielding effect of negatively charged electrons prevent higher energy electrons from experiencing the full nuclear charge of the nucleus due to the repelling effect of inner layer. The effective nuclear charge experienced by an electron is also called the core charge. It is possible to determine the strength of the nuclear charge by the oxidation number of the atom.
Classical republicanismClassical republicanism, also known as civic republicanism or civic humanism, is a form of republicanism developed in the Renaissance inspired by the governmental forms and writings of classical antiquity, especially such classical writers as Aristotle, Polybius, and Cicero. Classical republicanism is built around concepts such as liberty as non-domination, self-government, rule of law, property-based personality, anti-corruption, abolition of monarchy, civics, civil society, common good, civic virtue, popular sovereignty, patriotism and mixed government.