Rate of Change in Economics Research (CROSBI ID 149405)
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Podaci o odgovornosti
Scitovski, Rudolf ; Kosanović, Slavica
engleski
Rate of Change in Economics Research
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.
Rate of Change
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