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How to measure the average rate of change? / Alekseev, Aleksandr; Sokolov, Mikhail V.

In: Mathematical Social Sciences, Vol. 113, 09.2021, p. 43-59.

Research output: Contribution to journal › Article › peer-review

Harvard

Alekseev, A & Sokolov, MV 2021, 'How to measure the average rate of change?', Mathematical Social Sciences, vol. 113, pp. 43-59. https://doi.org/10.1016/j.mathsocsci.2021.04.002

APA

Alekseev, A., & Sokolov, M. V. (2021). How to measure the average rate of change? Mathematical Social Sciences, 113, 43-59. https://doi.org/10.1016/j.mathsocsci.2021.04.002

Vancouver

Alekseev A, Sokolov MV. How to measure the average rate of change? Mathematical Social Sciences. 2021 Sep;113:43-59. https://doi.org/10.1016/j.mathsocsci.2021.04.002

Author

Alekseev, Aleksandr ; Sokolov, Mikhail V. / How to measure the average rate of change?. In: Mathematical Social Sciences. 2021 ; Vol. 113. pp. 43-59.

BibTeX

@article{8cdcc893aeff4089b93e6650c3e20ce1,
title = "How to measure the average rate of change?",
abstract = "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.",
keywords = "Average rate of change, Discount rate, Path-dependence, Time preference",
author = "Aleksandr Alekseev and Sokolov, {Mikhail V.}",
note = "Publisher Copyright: {\textcopyright} 2021 Elsevier B.V.",
year = "2021",
month = sep,
doi = "10.1016/j.mathsocsci.2021.04.002",
language = "English",
volume = "113",
pages = "43--59",
journal = "Mathematical Social Sciences",
issn = "0165-4896",
publisher = "Elsevier",

}

RIS

TY - JOUR

T1 - How to measure the average rate of change?

AU - Alekseev, Aleksandr

AU - Sokolov, Mikhail V.

N1 - Publisher Copyright: © 2021 Elsevier B.V.

PY - 2021/9

Y1 - 2021/9

N2 - 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.

AB - 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.

KW - Average rate of change

KW - Discount rate

KW - Path-dependence

KW - Time preference

UR - http://www.scopus.com/inward/record.url?scp=85105317941&partnerID=8YFLogxK

U2 - 10.1016/j.mathsocsci.2021.04.002

DO - 10.1016/j.mathsocsci.2021.04.002

M3 - Article

AN - SCOPUS:85105317941

VL - 113

SP - 43

EP - 59

JO - Mathematical Social Sciences

JF - Mathematical Social Sciences

SN - 0165-4896

ER -

ID: 92726408