Αποτελέσματα Αναζήτησης
We choose to argue this point by considering the functioning in this context of a well-known, but perhaps relatively underappreciated, rule: the ceteris paribus clause, in four di¡erent current environments: namely in mathematical modelling, econometrics, simulations and experiments.
1.04 Ceteris paribus Ceteris paribus means other things being equal. Economists often make use of ceteris paribus to consider the possible effects of a change in one variable on another variable. For instance, an increase in real disposable income would be expected to lead to an increase in demand for gold watches, on the assumption
The Latin phrase 'ceteris paribus', which translates as 'other things the same', is much invoked by economists. Its popularity stems from its prominent use by Alfred Marshall (1920, pp. xiv-xv, 366-70), who invented the metaphor of 'the pound called Coeteris Paribus' - pound being used here in the same sense as in impoundment -in which are ...
During analysis, economists rely on ceteris paribus, an assumption that nothing in the world changes during the analysis except the variable(s) being measured. In that way, we can better determine the cause-and-effect relationships between variables.
The ceteris paribus condition in economic theory assumes that the world outside the environment described by the theoretical model does not change, so that it has no impact on the economic phenomena under review.
Ceteris paribus means ‘other things being equal’ (constant). By this assumption, causal relationships are possible: If A occurs, then B follows. Example: If the price rises, quantity demanded falls. Other things being equal, such as income, prices of other goods, tastes, number of buyers.
An important part of many models is the assumption of ceteris paribus, a Latin phrase that Essentials of Economics in Context – Sample Chapter for Early Release
