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Lecture

Panel data: static model

Related concepts (23)

Axiom of choice

In mathematics, the axiom of choice, abbreviated AC or AoC, is an axiom of set theory equivalent to the statement that a Cartesian product of a collection of non-empty sets is non-empty. Informally put, the axiom of choice says that given any collection of sets, each containing at least one element, it is possible to construct a new set by arbitrarily choosing one element from each set, even if the collection is infinite. Formally, it states that for every indexed family of nonempty sets, there exists an indexed set such that for every .

Time

Time is the continued sequence of existence and events that occurs in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence events, to compare the duration of events or the intervals between them, and to quantify rates of change of quantities in material reality or in the conscious experience. Time is often referred to as a fourth dimension, along with three spatial dimensions.

Public choice

Public choice, or public choice theory, is "the use of economic tools to deal with traditional problems of political science". Its content includes the study of political behavior. In political science, it is the subset of positive political theory that studies self-interested agents (voters, politicians, bureaucrats) and their interactions, which can be represented in a number of ways – using (for example) standard constrained utility maximization, game theory, or decision theory.