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Homogeneous |
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HomogeneousExhibiting a high degree of homogeneity.Homogeneous Similar MatchesHomogeneous productHomogeneous productThe product of an industry in which the outputs of different firms are indistinguishable. Contrasts with differentiated product. Homogeneous functionHomogeneous functionA function with the property that multiplying all arguments by a constant changes the value of the function by a monotonic function of that constant: F(lV)=g(l)F(V), where F(·) is the homogeneous function, V is a vector of arguments, l>0 is any constant, and g(·) is some strictly increasing positive function. Special cases include homogeneous of degree X and linearly homogeneous. Homogeneous of degree XHomogeneous of degree XA homogeneous function where the monotonic function is the constant raised to the exponent X: F(lV)=lXF(V). For X>1, see increasing returns to scale; for X<1, see decreasing returns to scale. Zero degree homogeneousZero degree homogeneousHomogeneous of degree zero. Homogeneous expectations assumptionHomogeneous expectations assumptionAn assumption of Markowitz portfolio construction that investors have the same expectations with respect to the inputs that are used to derive efficient portfolios: asset returns, variances, and covariances. Further SuggestionsHomogeneous of degree 1Linearly homogeneous Homogeneous of degree zero First degree homogeneous |
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