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Consonance Coefficients
Values representing the degree to which a firm�s profit is influenced by the profits of its competitors, used in calculating equilibrium in oligopolies.
Implications
Statistical measures used to assess the agreement or similarity between different variables or datasets, often used in research to evaluate the consistency of results or models.
Example
Example: A social scientist uses consonance coefficients to evaluate the alignment between different survey responses, ensuring the reliability of the data collected.
Related Terms
Different from correlation coefficients, which measure the strength of the relationship between two variables, consonance coefficients specifically assess the agreement or similarity between variables.
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