Exchangeability - Meaning, Definition & English Examples
Exchangeability refers to the ability of items or concepts to be swapped or substituted for one another without affecting the outcome or function. It is often used in statistics, economics, and language.
Definition:
The quality of being able to be exchanged or substituted for something else.
Synonyms:
interchangeability, substitutability, replaceability
Part of Speech:
noun
Antonyms:
irreplaceability, uniqueness, incompatibility
Common Collocations:
statistical exchangeability, exchangeability condition, exchangeability assumption
Derivatives:
exchangeable, unexchangeable
Usage Tips:
Use "exchangeability" in contexts where items or ideas can be swapped without altering outcomes or value.
Common Phrases:
principle of exchangeability, exchangeability of goods, exchangeability in probability
Etymology:
Derived from "exchange," from Old French "eschangier," meaning to barter or trade, plus "-ability."
Examples:
- 1. The two currencies have high exchangeability in global markets.
- 2. Statistical models often assume exchangeability among data points for simplicity.
- 3. The contract guarantees the exchangeability of damaged goods within 30 days.
- 4. Lack of exchangeability made the rare artifact priceless to collectors.