Abstract
What is mean value? Conventional wisdom tells us that it represents, typifies or in some way measures the central tendency of a distribution. Familiar examples of mean value include the median, mode, arithmetic mean, geometric mean, harmonic mean and root-mean-square or more generally the rth root of the rth moment of a positive random variable.
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Hong, C.S. (2018). Mean Value. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1208
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1208
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