Equity premium puzzleThe equity premium puzzle refers to the inability of an important class of economic models to explain the average equity risk premium (ERP) provided by a diversified portfolio of U.S. equities over that of U.S. Treasury Bills, which has been observed for more than 100 years. There is a significant disparity between returns produced by stocks compared to returns produced by government treasury bills. The equity premium puzzle addresses the difficulty in understanding and explaining this disparity.
Statistical dispersionIn statistics, dispersion (also called variability, scatter, or spread) is the extent to which a distribution is stretched or squeezed. Common examples of measures of statistical dispersion are the variance, standard deviation, and interquartile range. For instance, when the variance of data in a set is large, the data is widely scattered. On the other hand, when the variance is small, the data in the set is clustered. Dispersion is contrasted with location or central tendency, and together they are the most used properties of distributions.
Vasicek modelIn finance, the Vasicek model is a mathematical model describing the evolution of interest rates. It is a type of one-factor short-rate model as it describes interest rate movements as driven by only one source of market risk. The model can be used in the valuation of interest rate derivatives, and has also been adapted for credit markets. It was introduced in 1977 by Oldřich Vašíček, and can be also seen as a stochastic investment model.
Financial riskFinancial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default. Often it is understood to include only downside risk, meaning the potential for financial loss and uncertainty about its extent. A science has evolved around managing market and financial risk under the general title of modern portfolio theory initiated by Harry Markowitz in 1952 with his article, "Portfolio Selection".
Semi-log plotIn science and engineering, a semi-log plot/graph or semi-logarithmic plot/graph has one axis on a logarithmic scale, the other on a linear scale. It is useful for data with exponential relationships, where one variable covers a large range of values, or to zoom in and visualize that - what seems to be a straight line in the beginning - is in fact the slow start of a logarithmic curve that is about to spike and changes are much bigger than thought initially.
Log–log plotIn science and engineering, a log–log graph or log–log plot is a two-dimensional graph of numerical data that uses logarithmic scales on both the horizontal and vertical axes. Power functions – relationships of the form – appear as straight lines in a log–log graph, with the exponent corresponding to the slope, and the coefficient corresponding to the intercept. Thus these graphs are very useful for recognizing these relationships and estimating parameters. Any base can be used for the logarithm, though most commonly base 10 (common logs) are used.
DiphthongA diphthong (ˈdɪfθɒŋ,_ˈdɪp- ; , ), also known as a gliding vowel, is a combination of two adjacent vowel sounds within the same syllable. Technically, a diphthong is a vowel with two different targets: that is, the tongue (and/or other parts of the speech apparatus) moves during the pronunciation of the vowel. In most varieties of English, the phrase "no highway cowboy" (noʊ_ˈhaɪweɪ_ˈkaʊbɔɪ) has five distinct diphthongs, one in every syllable.
Yo (Cyrillic)Yo, Jo or Io (Ё ё; italics: Ё ё; jɵ) is a letter of the Cyrillic script. In Unicode, the letter is named CYRILLIC CAPITAL/SMALL LETTER IO. In English, the letter Yo is romanized using the Latin ë (according to the ALA–LC and British Standards), ë (yë word-initially) (BGN/PCGN) or yo/jo (orthographic transcription) for Russian, and as i͡o (ALA–LC), yo (BGN/PCGN), or ë (BSI) for Belarusian. In international systems, Yo is romanized as ë (ISO 9). It was derived from the Cyrillic letter Ye (Е е).
Log probabilityIn probability theory and computer science, a log probability is simply a logarithm of a probability. The use of log probabilities means representing probabilities on a logarithmic scale , instead of the standard unit interval. Since the probabilities of independent events multiply, and logarithms convert multiplication to addition, log probabilities of independent events add. Log probabilities are thus practical for computations, and have an intuitive interpretation in terms of information theory: the negative of the average log probability is the information entropy of an event.
Cyrillic alphabetsNumerous Cyrillic alphabets are based on the Cyrillic script. The early Cyrillic alphabet was developed in the 9th century AD and replaced the earlier Glagolitic script developed by the Byzantine theologians Cyril and Methodius. It is the basis of alphabets used in various languages, past and present, Slavic origin, and non-Slavic languages influenced by Russian. As of 2011, around 252 million people in Eurasia use it as the official alphabet for their national languages. About half of them are in Russia.
Isan languageIsan or Northeastern Thai (ภาษาอีสาน, ภาษาไทยถิ่นตะวันออกเฉียงเหนือ, ภาษาไทยถิ่นอีสาน, ภาษาไทยอีสาน, ภาษาลาวตะวันตก, ภาษาลาวอีสาน) refers to the local development of the Lao language in Thailand, after the political split of the Lao-speaking world at the Mekong River, with the eastern bank eventually becoming modern Laos and the western bank the Isan region of Thailand (formerly known as Siam prior to 1932), after the conclusion of the Franco-Siamese War of 1893. The language is still referred to as Lao by native speakers.
Digraph (orthography)A digraph or digram (from the δίς , "double" and γράφω , "to write") is a pair of characters used in the orthography of a language to write either a single phoneme (distinct sound), or a sequence of phonemes that does not correspond to the normal values of the two characters combined. Some digraphs represent phonemes that cannot be represented with a single character in the writing system of a language, like the English sh in ship and fish. Other digraphs represent phonemes that can also be represented by single characters.
