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Term of the Day
substitution
elasticity of substitution
marginal rate
Definition
An
appraisal
principle
that states that the
maximum
value
of a
property
tends to be set by the
cost
of
purchasing
an
equally
desirable and
valuable
substitute
property, assuming that no
costly
delay is encountered in making the substitution.
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Popular 'Lending & Credit' Terms
equity
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Related Terms
low-coupon bond refunding
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marginal rate
marginal rate
elasticity of substitution
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novation
Mentioned in these terms
marginal rate of technical substitution
asset substitution problem
substitution bond swap
currency substitution
marginal rate of substitution
asset substitution
same-day substitution
substitution effect
substitution of collateral
import substitution
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