non expected utility in macroeconomics

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Question English Answer English
utility
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usefulness of something
consumption
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the amount that is used(eating, drinking, services etc.)
Parametric
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relating to the parameters of something
isoelastic utility function
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s used to express utility in terms of consumption or some other economic variable that a decision-maker is concerned with.
distinguish
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to notice or understand the difference between two things
Elasticity of intertemporal substitution
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is a measure of responsiveness of the growth rate of consumption to the real interest rate.
empirical
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based on practise rather than theory
theoretical
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based on theory
preferences
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when you like something more than something else
constrain
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to control and limit something
reciprocal
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two people or groups of people who agree to help each other and give each other advantages.
to be devoid of something
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be without something that is necessary
distaste
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when you dislike something that is unacceptable
coefficient
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a number that is written in front of and multiplies another number or symbol
framework
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solid structure around which something can be built
suffice
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to be enough
extenstion
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adding something in order to make it longer
consistency
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the fact that something is always happening in a similar way
axiomatic
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obviously true
essence
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the basic idea of something
appropriate
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suitable for particular occasion
Multiperiod
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"wielookresowy"
Implicit
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suggested but not communicated directly
Risk-neutral
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the concept of economics, when a person is indifferent to risk when making an investment decision
schocastic
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connected with random probability
outside the scope
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out of the interest, out of the range etc.
namely
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it is used when you want to give more detail on something
nonindifferent
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interested in something
Uncertainty
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a situation in which something is unknown
Compound
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something consisting of two or more different parts
thus
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in this way
impose
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to officially force a rule
establich
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to start communicating with another person
axiom
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a statement that is considered true by default
the aggregator function
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it is a function where the values of multiple rows are grouped together to form a single summary value.
Denote
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to represent something
exhibit
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to show something publicly
Convex
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curved
emerge as
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to appear by coming out of something
Recursive
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doing or saying the same thing several times in a row to cause some effect
Iterate
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to repeat a process
Heuristic
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is any approach to problem solving or self-discovery that employs a practical method that is not guaranteed to be optimal, perfect, or rational, but is nevertheless sufficient for reaching an immediate, short-term goal or approximation.
fluctuation
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the process of changing
therefore
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for that reason
trade-off
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a situation in which you balance two opposing situations
factor
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a fact or situation that influences the result of something
indirect
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happening in addition to an intended result
deterministic
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believing that everything that happens must happen as it does and could not have happened any other way
be endowed with something
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to have a particular quality or feature
constant
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happening all the time
derived
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coming from or caused by something else
interest rate
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the interest percent that a bank or other financial company charges you when you borrow money
parallel
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the distance between them is the same all along their length
curvature
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the state of being curved or bent
conjucture
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a guess about something based on how it seems
interpretation
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an explanation or opinion of what something means
gamble
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to risk money
Propensity
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the fact that someone is likely to behave in a bad way
lifespan
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the length of time for which a person exists
Implication
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the effect of some action that will affect something in the future.
foregoing
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involving what has just been mentioned or described
substantial
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large in size
equation
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a mathematical statement in which you show that two amounts are equal
solely
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only and not involving anyone or anything else
Magnitude
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the large size of something
Notable
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important and deserving attention
unambiguously
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in a way which makes perfect sense
mean-preserving spread
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is a change from one probability distribution A to another probability distribution B, where B is formed by spreading out one or more portions of A's probability density function while leaving the mean the expected value unchanged
clarify
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to make something easy to understand
maintain
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to continue to have
motive
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a reason for doing something
remark
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to give a thought of spoken sentence
variation
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a change in amount or level
anomaly
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thing that is different from what is usual
econometrician
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someone who works with or studies econometrics
thereof
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of or about the thing just mentioned
leisure
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the time to relax, when you are not doing your duties
indubitable
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that cannot be doubted
panacea
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something that will solve all problems

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