First Best

Views Updated: Dec 15, 2025

Abbreviation

Pronunciation

/fərst bɛst/

On the basis of the two sides utility function a first best payment system has been provided to eliminate moral hazard and self-selection from hospital by game theory.
The algorithm imports cross operator and mutation operator after reserving the intersection of the first best solution and the second best solution in every evolution.
Women were more likely to keep the same friends as they went through life, with three in ten still close to their first best friend, compared with two out of ten men.
Four out of10 in the North East were still close to their first best friend from school, compared with just two out of10 people in the North West, Yorkshire and Humberside and the South West.
The findings are as follows : Decentralized equilibrium can achieve first best allocation of liquidity. Interbank market can cause full participation equilibrium, interbank market breakdown or liquidity hoarding in the existence of information asymmetry and counterparty risk.

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