Naslov
Rate of Change in Economics Research

Autori
Scitovski, Rudolf ; Kosanović, Slavica

Izvornik
Economic analysis and workers' management (0351-286X) 19 (1985); 65-75

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Rate of Change

Sažetak
Certain economic phenomena are often considered in research through rate of change. Rates of change represent information which enable researchers to come to conclusions about tendencies and the intensities of observed phenomena. In applications the computation of rate of change is mostly carried out by using the geometric mean of ratios of data. The basic disadvantage of such an approach is the elimination of the influence of all data (except two of them), because the conclusions is carried out on the basis of the first and last datum. Besides, using the geometric mean, the rate of change can be computed only for the equidistant distributed data, and this also represents a limitation in its application. This paper points out the disadvantages of such an approach, introduces precise definition of the rate of change and proposes the manner in which this important economic inductor can be more accurately determined.

Izvorni jezik
Engleski

Znanstvena područja
Matematika, Ekonomija

POVEZANOST RADA