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A POSTERIORI: A conclusion reached through logical reasoning based on facts and observations about the real world. This notion is closely related to the scientific verification of hypotheses and the identification of principles. A similar sounding, but opposite term is a prior, which is a unverified presumption made before an analysis is undertaken. For example, in the study of economics of crime you might assume, a priori, that people are basically "good", and conclude, a posteriori, that people are more likely to commit crimes when the threat of capture and conviction is lower.
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AVERAGE PRODUCT The quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average product, usually abbreviated AP, is found by dividing total product by the quantity of the variable input. Average product, which occasionally goes by the alias average physical product (APP), is one of two measures derived from total product. The other is marginal product.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction trying to buy either a coffee cup commemorating the 1960 Presidential election or a how-to book on fixing your computer, with illustrations. Be on the lookout for strangers with large satchels of used undergarments.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"My life as a writer consists of 1/8 talent and 7/8 discipline. " -- John Irving, writer
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EMA
Econometrica
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