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What Do We Call the Movement, Both Upward and Downward

question 25

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What do we call the movement, both upward and downward, of one's class position in a society?


Definitions:

Perfect Information

A situation in decision theory and economics where all participants have complete and accurate information about all aspects relevant to their decision-making.

Net Present Value

Net Present Value is a financial metric that calculates the difference between the present value of cash inflows and the present value of cash outflows over a period of time.

Expected Value

The long-term average or mean of a random variable or a probability distribution.

Perfect Information

A scenario in which all relevant economic information is known to all participants at the same time.

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