![]() This is assuming the price of Brand B remains unchanged for the comparison. When the price of Brand A Soda increases, the demand for Brand B Soda increases. The people of Consumerville are divided in their loyalties to certain brands of lemon soda. Mutatis mutandis is most often used to compare two variables, noting that certain necessary changes are so obvious, they do not need to be mentioned. ![]() This is referred to as mutatis mutandis, which is Latin for “things having been changed that have to be changed.” There is a converse concept that considers that all necessary changes have been made. The concept of ceteris paribus excludes changes and variables except for those specifically discussed. While one may apply ceteris paribus to make a static, or snapshot, comparison, change is inevitable, and one cannot set those changes aside, holding only one of them constant. Realists in research and analysis recognize that factors in finance and the economy are in constant change. Many researchers hold that, while these conditional laws are subject to ceteris paribus, laws of fundamental physics are not. There is another consideration in applying ceteris paribus in scientific study: the study of physics deals in universal laws, but the study of such issues as psychology, behavioral science, and even biology tend to deal with laws that are only true under certain conditions. This would be more difficult to explain if other variables, such as the amount of salt in the water, were taken into account during the explanation. ![]() Water is the thing being studied, heat is the variable, and the effect is steam. This is especially true when trying to provide a model, or description, of how the variable and studied thing interact, or effect one another.įor example, ceteris paribus, high heat applied to water results in the creation of steam. In scientific study of a particular thing, it is necessary to be able to examine the effect of a certain variable on that thing – without necessarily taking into account all other possible variables. This decrease in supply will, ceteris paribus (or, assuming all other factors remain the same), result in a price increase in gasoline. temporarily decreases the amount of gasoline available to consumers. Send us feedback about these examples.Should someone wish to discuss the effect changes in one variable, such as availability, on another variable, such as price, without having to discuss the possibility that other variables may also have an effect.Īn explosion at a major oil refinery in the U.S. These examples are programmatically compiled from various online sources to illustrate current usage of the word 'all/other things being equal.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Gina Vaynshteyn, Glamour, 31 July 2020 See More 2020 Something with more surface area, all other things being equal, might be more enjoyable. What does all other things (else) being equal expression mean Definitions by the largest Idiom Dictionary. 2022 Across an entire population, all other things being equal, Covid-19 kills hardly anyone under 50. Nat Newell, The Indianapolis Star, 16 Mar. Ceteris paribus, literally 'holding other things constant,' is a Latin phrase that is commonly translated into English as 'all else being equal.' A dominant assumption in mainstream. 2022 So winning the coin toss, all things being equal, gives you a 6% better chance to win. 2023 True, deficit reduction should, other things being equal, reduce aggregate demand and inflation. 2022 All other things being equal, a passthrough creates a quicker kill and better blood trail. 2023 There is far more to the man than his studied posture as a country boy who, all things being equal, would rather be hunting or fishing. 2023 Higher debt-servicing costs tend to reduce the firepower companies have to invest and pay workers, other things being equal. Bill Shaikin, Los Angeles Times, 3 Nov. Recent Examples on the Web But, all other things being equal, being a valedictorian counts for more than just a line in the graduation program.
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