The eutectic and eutectoid points are quite similar ideas: both are about a homogeneous material that changes into a mixture of two solid phases as it cools. However, eutectic goes from a liquid to a pair of solid phases (liquid iron into the austenite and cementite phases in the example above), while eutectoid goes from one solid phase to two (austenite into ferrite and cementite).
If you wanted to use the same word for both points, then you’d need some other way of disambiguating them. Maybe the “austenite easy transition point” and “liquid easy transition point”?
I’d like to take Kevin’s $0.02 in the coin-flipping word search.
First, I’ll buy a prediction contract that I will flip Heads. This will cost $0.50 for a $1 payout.
Second, I’ll buy the right to a futures contract: After the word is revealed and his search is complete, I will be given a prediction contract which pays $1 if Tails is revealed. If his expected posterior for Heads is 0.52 then the futures contract would have a value of $0.48.
In aggregate, I’ve paid $0.98 for a guaranteed $1.00 return.