Definition of "substitutability" []

• The quality of being substitutable; the capacity to be substituted. (noun)

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• "The assessment methodology would be based size, interconnectedness, lack of substitutability, global activity and complexity of the banks."
• "In general terms, a relevant product market comprises all those products and/or services which are regarded as interchangeable or substitutable substitutability by reason of product characteristics, prices and intended use.1"
• "Borjas & Co., working with heroic models with heroic assumptions about the mobility and substitutability of capital and labor -- statistical systems that are always highly susceptible to assumptions -- find that high-school dropouts have taken a 4-8% wage hit because of immigration between 1980 and 2000."