Walrasian Market

Key takeaways – A Walrasian market (or call market) batches buy and sell orders and finds a single clearing price that executes the most…

Walrass Law

Key takeaways – Walras’s Law states that the value of excess demand across all markets in an economy sums to zero. In other words,…

Walmart Effect

The “Walmart Effect” refers to the broad economic and social changes that occur when a large Walmart store enters a local market. Because of…

Wall Of Worry

Key Takeaways – The “wall of worry” describes the tendency of markets—especially equity markets—to continue rising despite a steady stream of negative headlines and…

Wall Street Journal Prime Rate

• The Wall Street Journal (WSJ) prime rate is the published average of the prime lending rates reported by the 10 largest U.S. banks.…

Walk Through Test

A walk-through test is an audit procedure in which an auditor traces a single representative transaction step-by-step through an organization’s accounting system—from initiation to…

Weighted Average Loan Age Wala

Summary (Key Takeaways) – The weighted average loan age (WALA) measures the average age (in months or years) of loans in a mortgage pool,…

Waiver Of Premium Rider

A waiver of premium rider is an optional clause added to a life insurance policy that stops (waives) your premium payments if you become…

Waiver

A waiver is a voluntary, intentional relinquishment of a known legal right or claim. It can be written or implied by conduct (for example,…

Waiver Of Premium For Payer Benefit

Key takeaways – A waiver of premium for payer benefit is a rider or clause that suspends premium payments if the designated payor (the…