Ceteris Paribus

Description of Ceteris Paribus. Explanation.

Definition Ceteris Paribus. Description.

Ceteris Paribus is a Latin term that indicates all other influencing factors are held constant, all other things being equal.

A prediction, or a statement about causal or logical connections between two states of affairs, is qualified by ceteris paribus in order to acknowledge, and to rule out, the possibility of other factors which could override the relationship between the antecedent and the consequent.

One of the disciplines in which ceteris paribus clauses are most widely used is economics, in which they are essential to simplify the formulating of and making predictions under the law of supply and demand. So-called ceteris paribus clauses are also important in philosophy, particularly in ethics, moral psychology and management, where they are often used in the analysis of the relation between mental states and behavior.

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End of description Ceteris Paribus. An explanation.