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Homogeneous |
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HomogeneousExhibiting a high degree of homogeneity.Homogeneous Similar MatchesHomogeneous of degree zeroHomogeneous of degree zeroThe property of a function that, if you scale all arguments by the same proportion, the value of the function does not change. See homogeneous of degree X. In the H-O Model, CRTS production functions imply that marginal products have this property, which is critical for FPE. 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. Homogeneous of degree 1Homogeneous of degree 1The same as linearly homogeneous and, for a production function, constant returns to scale. See homogeneous of degree X. 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. Homogeneous productHomogeneous productThe product of an industry in which the outputs of different firms are indistinguishable. Contrasts with differentiated product. Further SuggestionsLinearly homogeneousHomogeneous function First degree homogeneous Zero degree homogeneous |
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