Examlex
_____ is embodied in the notion of a social welfare function.
Duration
A measure of the sensitivity of the price of a bond or other debt instrument to changes in interest rates, representing the weighted average time to receive the bond's cash flows.
Coupon
A voucher entitling the holder to a discount for a particular product or service.
Zero-Coupon Bond
A bond that is issued at a discount and repaid at face value at maturity, without periodic interest payments.
Duration
A measure of the sensitivity of the price of a bond or other debt instrument to a change in interest rates, typically expressed in years.
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