Empirical Duration
Categories: Financial Theory
The actual duration that something actually lasted.
"Empirical" = observed. Like...the King looks East and sees his empire; he observes it. It's real. So an empirical duration relates to a real amount of time that, say, a King's power lasts. It's not the notional, almost semi-religious attribution of value that citizens feel toward the once-great-King; it's the actual time period during which the King had enough power to say, "up is now down," and his citizens would actually...go with it.