non expected utility in macroeconomics

utility

usefulness of something

consumption

the amount that is used(eating, drinking, services etc.)

Parametric

relating to the parameters of something

isoelastic utility function

s used to express utility in terms of consumption or some other economic variable that a decision-maker is concerned with.

distinguish

to notice or understand the difference between two things

Elasticity of intertemporal substitution

is a measure of responsiveness of the growth rate of consumption to the real interest rate.

empirical

based on practise rather than theory

theoretical

based on theory

preferences

when you like something more than something else

constrain

to control and limit something

reciprocal

two people or groups of people who agree to help each other and give each other advantages.

to be devoid of something

be without something that is necessary

distaste

when you dislike something that is unacceptable

coefficient

a number that is written in front of and multiplies another number or symbol

framework

solid structure around which something can be built

suffice

to be enough

extenstion

adding something in order to make it longer

consistency

the fact that something is always happening in a similar way

axiomatic

obviously true

essence

the basic idea of something

appropriate

suitable for particular occasion

Multiperiod

"wielookresowy"

Implicit

suggested but not communicated directly

Risk-neutral

the concept of economics, when a person is indifferent to risk when making an investment decision

schocastic

connected with random probability

outside the scope

out of the interest, out of the range etc.

namely

it is used when you want to give more detail on something

nonindifferent

interested in something

Uncertainty

a situation in which something is unknown

Compound

something consisting of two or more different parts

thus

in this way

impose

to officially force a rule

establich

to start communicating with another person

axiom

a statement that is considered true by default

the aggregator function

it is a function where the values of multiple rows are grouped together to form a single summary value.

Denote

to represent something

exhibit

to show something publicly

Convex

curved

emerge as

to appear by coming out of something

Recursive

doing or saying the same thing several times in a row to cause some effect

Iterate

to repeat a process

Heuristic

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

the process of changing

therefore

for that reason

trade-off

a situation in which you balance two opposing situations

factor

a fact or situation that influences the result of something

indirect

happening in addition to an intended result

deterministic

believing that everything that happens must happen as it does and could not have happened any other way

be endowed with something

to have a particular quality or feature

constant

happening all the time

derived

coming from or caused by something else

interest rate

the interest percent that a bank or other financial company charges you when you borrow money

parallel

the distance between them is the same all along their length

curvature

the state of being curved or bent

conjucture

a guess about something based on how it seems

interpretation

an explanation or opinion of what something means

gamble

to risk money

Propensity

the fact that someone is likely to behave in a bad way

lifespan

the length of time for which a person exists

Implication

the effect of some action that will affect something in the future.

foregoing

involving what has just been mentioned or described

substantial

large in size

equation

a mathematical statement in which you show that two amounts are equal

solely

only and not involving anyone or anything else

Magnitude

the large size of something

Notable

important and deserving attention

unambiguously

in a way which makes perfect sense

mean-preserving spread

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

to make something easy to understand

maintain

to continue to have

motive

a reason for doing something

remark

to give a thought of spoken sentence

variation

a change in amount or level

anomaly

thing that is different from what is usual

econometrician

someone who works with or studies econometrics

thereof

of or about the thing just mentioned

leisure

the time to relax, when you are not doing your duties

indubitable

that cannot be doubted

panacea

something that will solve all problems