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Equation 7 · Part 1 · The Granary as an Institution

Symbol delta

δ\delta
δ\delta

What this part means

delta is a part of this expression. Its role is fixed by the surrounding article and by the operations shown in the formula.

Its job in the formula

delta is a part of this expression. Its role is fixed by the surrounding article and by the operations shown in the formula.

The passage around this formula

where StS_t is the stock held, HtH_t the harvest added, CtC_t own consumption, TtT_t the quantity appropriated by others, and δ\delta the proportional loss rate to pests, damp and spoilage. The equation is illustrative rather than estimated, and its value is that it separates two subtractions usually conflated. Grain that rots is gone; grain that is taken still exists and has changed owner. A society can be losing a large…

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Learn the underlying idea

A variable is a named place for a value. Its letter is a local label: x can mean position in one formula and a data point in another.

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Sources cited in the article section

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