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rate

vr.tr.rate-possession · thing-rate-possession

Let an agent handle rates of payment by basis, amount, period and applicable rules, with sourced figures.

Thing Registry Society, people and institutions SOC.ECO
Bundle → Layer → Finding → QuestionsClassifiersWhat it isWhy it existsDistinguishing featuresWhat robots and AI may and may not doMoral aspectsOwnersLinks to other meta-modelsIdentity and identifiersDirect propertiesRecognitionCapabilities and actionsHazards and failure modesStandards and interfacesContext of useSources

Bundle → Layer → Finding → Questions Filled

4 bundles · 8 layers · 8 findings · 16 questions

Basis Rate per what.

Unit

Per hour, per year.

Unit

Rate basis.

  1. What is the rate, per what unit? measurement
  2. In which currency? definition

Type

Pay, interest, tariff.

Type

Rate type.

  1. Is it a pay, interest or tariff rate? definition
  2. Which specific entry fits? action
Pay Wages.

Minimum

Legal floor.

Minimum

Minimum wage.

  1. Is this rate at or above the legal minimum wage? boundary
  2. Which rate applies to this age and region? provenance

Overtime

Premiums.

Overtime

Overtime.

  1. What overtime premium applies? measurement
  2. Under which contract or law? provenance
Credit Interest.

APR

Total cost.

APR

Annual percentage rate.

  1. What is the APR including fees? measurement
  2. Is it fixed or variable? definition

Repayment

Schedule.

Repayment

Repayment.

  1. What are the repayments at this rate? measurement
  2. What if payments are missed? boundary
Comparison Like for like.

Normalise

Same basis.

Normalise

Normalisation.

  1. Are the rates on the same basis and period? boundary
  2. How should they be converted? action

Sources

Data.

Sources

Sources.

  1. Where do the rates come from, and how current are they? provenance
  2. Are they typical or advertised? boundary

Classifiers Filled

Family
Thing Registry
Category
Society, people and institutions
Entry kind
noun.possession
Plane
SOC
Domain
SOC.ECO
Facets: substance
social
Facets: origin
conceptual
Facets: agency
inert
Facets: mobility
not-applicable
Facets: scale
not-applicable
Facets: affordances
observable
Other names and narrower kinds
pay rate, rate of pay, time and a half, payment rate, rate of payment, repayment rate, installment rate, tax rate, interest rate, rate of interest, discount rate, discount

What it is Filled

The amount of a charge or payment relative to some basis, such as a pay rate per hour, an interest rate per year or a repayment rate.

Why it exists Filled

Let an agent handle rates of payment by basis, amount, period and applicable rules, with sourced figures.

Distinguishing features Filled

  • Payment per basis
  • Needs currency and period
  • Subject to minimum wage and consumer credit rules
  • Rate in physics is a different sense

What robots and AI may and may not do Filled

Must not

  • Present a rate in a way that hides its true cost.
  • Agree a rate on a person's behalf without their authority.
  • Set different rates for people on grounds that the law forbids.

Only with a human decision

  • Accepting a loan, wage or price agreement.

May

  • Report pay, interest and repayment rates with their basis and source.
  • Compare rates on a like-for-like basis, such as annual percentage rate.

Moral aspects Filled

  • Misleading rates trap people in debt.
  • Pay rates decide whether work supports a decent life.

Who is affected

  • Borrowers
  • Wage earners
  • Customers

Owners Filled

Steward

The party that sets it, such as a lender or employer, within rules set by regulators.

Links to other meta-models Filled

parent

  • oewn-13327892-n - registry parent class

related

  • price and charge - category
  • money - medium
  • minimum wage law - rules
  • rate (speed) - another sense

What else AI and robots need to interact with it Filled

Identity and identifiers required Filled

  • Vercy registry: vr.tr.rate-possession
  • Open English WordNet: oewn-13346032-n

Direct properties not applicable Not applicable

Not applicable

Plane SOC: no invented physical properties.

Recognition optional Filled

  • Amount per unit of time or quantity
  • Terms such as time and a half
  • Rate as speed or frequency is another sense
  • An amount per unit, such as EUR 20 per hour.

Capabilities and actions required Filled

  • compute pay from a rate
  • compare rates on the same basis
  • check minimum wage compliance
  • calculate overtime

Hazards and failure modes required Filled

  • Comparing rates on different bases
  • Pay below minimum wage
  • Hidden fees beyond the headline rate

Standards and interfaces required Filled

  • Minimum wage law
  • Working time and overtime law
  • Consumer credit APR disclosure rules

Context of use required Filled

  • Pricing work, credit and services.
  • pay rates and wages
  • overtime rates
  • interest rates
  • repayment rates
  • tariff rates

Sources Filled

  1. Open English WordNet 2024, synset oewn-13346032-n - sense and gloss of the concept
  2. Wiktionary: rate - word senses and usage

Open questions

  • Should pay and interest rates be separate entries?
  • How should rate bases be recorded?
  • How should the physics sense be split off?

Machine files

Card as JSON Specification Card backlog vercy.card/1

Provenance

thing registry research (pass 2) · unreviewed

Built from: models/things/publications/thing-rate-possession/spec.json