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Transformation is a unidirectional and irreversible change in dominant human economic activity ( economic sector ). Such change is driven by slower or faster continuous improvement in sector productivity growth rate. Productivity growth itself is fueled by advances in technology, inflow of useful innovations, accumulated practical knowledge and ...
Principal component analysis ( PCA) is a linear dimensionality reduction technique with applications in exploratory data analysis, visualization and data preprocessing . The data is linearly transformed onto a new coordinate system such that the directions (principal components) capturing the largest variation in the data can be easily identified.
Sociology. Qualitative research is a type of research that aims to gather and analyse non-numerical (descriptive) data in order to gain an understanding of individuals' social reality, including understanding their attitudes, beliefs, and motivation. This type of research typically involves in-depth interviews, focus groups, or observations in ...
Participatory action research ( PAR) is an approach to action research emphasizing participation and action by members of communities affected by that research. It seeks to understand the world by trying to change it, collaboratively and following reflection. PAR emphasizes collective inquiry and experimentation grounded in experience and ...
Qualitative comparative analysis. In statistics, qualitative comparative analysis ( QCA) is a data analysis based on set theory to examine the relationship of conditions to outcome. QCA describes the relationship in terms of necessary conditions and sufficient conditions. [1] The technique was originally developed by Charles Ragin in 1987 [2 ...
Milton Friedman (/ ˈ f r iː d m ən / ⓘ; July 31, 1912 – November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy.
The expected utility hypothesis is a foundational assumption in mathematical economics concerning decision making under uncertainty. It postulates that rational agents maximize utility, meaning the subjective desirability of their actions. Rational choice theory, a cornerstone of microeconomics, builds this postulate to model aggregate social ...
Asset maps are used in lieu of needs maps which focus solely on negative aspects of communities. Asset maps, on the other hand, focus on community assets, abilities, skills, and strengths in order to build its future. Time banks. Time banks are an example of using community assets to connect individuals' assets to one another.