N
naked exclusion (L4)
An exclusive dealing contract. A firm signs up sufficient customers to leave no market for potential competitors.
nanny state (I3)
An ECONOMY which is a WELFARE STATE providing so many benefits as to take away much personal responsibility and create a DEPENDENCY CULTURE.
narcodollars (F3, K4)
Dollars used to launder the money of drug barons of the world.
See also: laundering money
Nash bargaining (C7)
A two-person economic game in which there is collusion between the players. Equilibrium is such that an individual’s MARGINAL RATE OF SUBSTITUTION = the MARGINAL RATE OF TRANSFORMATION. This equilibrium is inefficient because the price facing the consumer is equal to the price of the PUBLIC GOOD, with some of the benefit ...
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