| 单词 | expected value |
| 释义 | expected value The mean of the distribution of the values an economic variable is expected to take. If pt is the price of a good at time t, E[pt ] is its expected value. To specify the time when an expectation is held, the expectation held at time t - 1 can be written t - 1 E[pt ] and the expectation held at time t - n can be written t - n E[pt ]. In the absence of any indication as to when an expectation was held, it is normally assumed that it refers to the previous period in a discrete-time model, and to the moment before the actual level of pt becomes known in a continuous-time model. |
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