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hybrid auction (D4)<br />A method of selling government bonds used in Japan. Most of an issue is allocated conventionally through a syndicate but the remainder is auctioned. Bidders make a quantity bid, rather than a price bid, committing themselves to taking a certain amount of an issue. The price will be fixed by the subsequent price negotiated by the syndicate.<br /><em>See also:</em> auction
open shop (J5)<br />A workplace where workers are employed whether or not they have TRADE UNION membership.<br /> See also: closed shop; union shop
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discount market (G1)<br />The money market specializing in transactions in short-term financial assets_<br /><em>See also:</em> short-term money market
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eigenprices (DO)<br />The economically rational prices of an economy derived from the actual state of an economy, as shown in an INPUT ouTPUT table. Each eigenprice is a full-cost price, reflecting the input-output coefficients for the production of that good. Eigenprices make output and factor prices consistent, taking into account the final yield of an economy and the principle of full-cost pricing. Actual prices are irrational if they diverge from eigenprices. Eigenprices are 'ideal' because factors of production are rewarded according to their marginal revenue products.<br /><em>Reference</em><br />Seton, F (1985) Cost, Use and Value. The Evaluation of Performance, Structure and Prices across Time, Space and Economic Systems, Oxford: Clarendon Press.
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