Alekseev, Aleksandr and Sokolov, Mikhail (2021) How to measure the average rate of change? MATHEMATICAL SOCIAL SCIENCES, 113. pp. 43-59. ISSN 0165-4896, 1879-3118
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This paper contributes to the theory of average rate of change (ARC) measurement. We use an axiomatic approach to generalize the conventional ARC measures (such as the difference quotient and the continuously compounded growth rate) in several directions: to outcome variables with arbitrary connected domains, to not necessarily time-shift invariant dependence on time, to more general (than an interval) time sets, to a path-dependent setting, and to a benchmark-based evaluation. We also revisit and generalize the relationship between the ARC measurement and intertemporal choice models. (C) 2021 Elsevier B.V. All rights reserved.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | DIVISIA INDEX; CHOICE; AXIOMATIZATION; PREFERENCE; INFLATION; UTILITY; MODEL; Average rate of change; Time preference; Discount rate; Path-dependence |
| Subjects: | 300 Social sciences > 330 Economics |
| Divisions: | Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Empirische Wirtschaftsforschung - Prof. Lea Cassar |
| Depositing User: | Dr. Gernot Deinzer |
| Date Deposited: | 14 Sep 2022 09:22 |
| Last Modified: | 14 Sep 2022 09:22 |
| URI: | https://pred.uni-regensburg.de/id/eprint/47441 |
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