endogeneity
C2CEFR level
95/100Rarity: very rare
TechnicalRegister
The condition in which an explanatory variable is correlated with the model's error term, rendering estimates biased.
Price is set in response to demand, so endogeneity means a naive regression overstates elasticity.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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