equation

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Related to equations of the second order: Quadratic equations

equation

a means of portraying arithmetically the relationship between VARIABLES. For example, the equation: C = 1,000 + 0.9Y suggests a particular relationship between consumer expenditure (C) and disposable income (Y), which would be true for certain values of C and Y (such as 10,000 and 10,000 respectively) but not true of other values of C and Y (such as 6,000 and 10,000 respectively). Equations are generally written with a two-bar equals sign (=), with the value to the left of the sign being equal to the value to the right of the sign. The validity of an equation can be tested statistically by collecting paired observations of the variables involved and testing whether or not these observations conform with the equation formulated. See IDENTITY.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Nadirashvili, Tkachev, and Vladut present students, academics, and mathematicians with a collection of applications of noncommutative and nonassociative algebras, used to construct unusual solutions to nonlinear elliptic partial differential equations of the second order. The seven chapters in the volume are dedicated to nonlinear elliptic equations, division algebras, exceptional lie groups, and calibrations, Jordan algebras and the Cartan isoparametric cubics, solutions from trialities and isoparametric forms, cubic minimal cones, and singular solutions in calibrated geometrics.
Building on his previous work on the subject, he starts by reviewing elliptic complex equations of the first order, including the relevant Riemann-Hilbert problem for nonlinear uniformly elliptic complex equations, then proceeds to describe the elliptic complex equations of the second order, hyperbolic complex equations of the first and second orders, first order complex equations of mixed type, second order linear equations of mixed type, and closing with second order quasilinear equations of mixed type.