|
Polytomous Choice
In economics, polytomous choice is a setting (model) with more than ''two'' choices; contrast to dichotomous choice. The use of the term polychotomous is also in common usage in the prior research literature; however, polytomous is the more technically correct spelling.Weiss, David J. (1995). “Polychtomous or Polytomous?,” Applied Psychological Measurement, Vol. 19, No. 1, p. 4 References Economics models {{Econ-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dichotomous Choice
A dichotomy is a partition of a whole (or a set) into two parts (subsets). In other words, this couple of parts must be * jointly exhaustive: everything must belong to one part or the other, and * mutually exclusive: nothing can belong simultaneously to both parts. If there is a concept A, and it is split into parts B and not-B, then the parts form a dichotomy: they are mutually exclusive, since no part of B is contained in not-B and vice versa, and they are jointly exhaustive, since they cover all of A, and together again give A. Such a partition is also frequently called a bipartition. The two parts thus formed are complements. In logic, the partitions are opposites if there exists a proposition such that it holds over one and not the other. Treating continuous variables or multicategorical variables as binary variables is called dichotomization. The discretization error inherent in dichotomization is temporarily ignored for modeling purposes. Etymology The term ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Polychotomous
A polychotomy (päl′i kät′ə mē; plural ''polychotomies'') is a division or separation into many parts or classes. Polychotomy is a generalization of dichotomy, which is a polychotomy of exactly two parts. In evolutionary biology, the term polychotomy can also be considered a historically-based misspelling of polytomy.Weiss, David J. (1995). “Polychtomous or Polytomous?,” Applied Psychological Measurement, Vol. 19, No. 1, p. 4 See also * Polychotomous key Polychotomous key refers to the number of alternatives which a decision point may have in a non-temporal hierarchy of independent variables. The number of alternatives are equivalent to the root or nth root of a mathematical or logical variable. D ... References {{Reflist External links Examples of usageAnother Approach to Polychotomous Classification [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
