Robert C. Merton is the John and Natty McArthur University Professor at the Harvard Business School. He holds a B.S. in engineering mathematics from Columbia University (1966) and an M.S. in applied ...

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

This article is part of The Conversation’s “Business Basics” series where we ask leading experts to discuss key concepts in business, economics and finance. For the best part of two centuries, the ...

Alexandra Twin has 15+ years of experience as an editor and writer, covering financial news for public and private companies. Robert Kelly is managing director of XTS Energy LLC, and has more than ...

Comparative advantage is an economic term that describes doing what you do best, and leveraging that against what you don’t do so well. World economies depend on the outcome.

A comparative advantage can be something inherent, in the way a person’s height might make them better at basketball. It can also be developed and improved, the way one basketball player can become ...