equivalence
pronunciation
How to pronounce equivalence in British English:
UK [ɪ'kwɪvələns]
How to pronounce equivalence in American English:
US [ɪˈkwɪvələns]
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- Noun:
- a state of being essentially equal or equivalent; equally balanced
- essential equality and interchangeability
- qualities that are comparable
Word Origin
- equivalence (n.)
- 1540s, from French équivalence, from Medieval Latin aequivalentia, from Late Latin aequivalentem "equivalent" (see equivalent). Related: Equivalency (1530s).
Example
- 1. The second assumption of the revenue equivalence theorem is that all bidders are risk-neutral .
- 2. Because fiscal positions were sound , there was less of what economists call ricardian equivalence .
- 3. The new system uses a calculation based on the energy equivalence of electricity .
- 4. In fact , under some strict assumptions , the revenue equivalence theorem ( also due to vickrey ) states that all four auction types will result in an identical level of revenue to the seller .
- 5. Economists who believe in " ricardian equivalence " after the early-19th-century economist david ricardo argue fiscal policy is ineffective , because households will offset any government dis-saving with their own higher savings .