Fundamentally.... i have been thinking about it in the following way until very recenty....

**So Thought 1......**

Because the inductor voltage drop changes polarity when the switch is in the off portion of the period, There is a voltage drop in the opposite direction causing the voltage at the load to be lower......

Then i read this the other day....

**Thought 2.....**

Lets pretend the inductor isnt there and the fet is replaced with an idea switch.

You are getting a period square wave out....

Fourier analysis tells us that the DC component of any period waveform is simply the average of the waveform given by the integral of course.....

Then it went on to say, the average DC component will however have some harmonics to it that need to be filtered out....

Ok.... so now im thinking that a buck converter has a lower output voltage strictly because the DC component of the periodic signal is the average....

and the inductor and the capacitor are there strictly to act as a filter to actually extract the DC component out of the period signal...

Which way is sounds more correct? Or are they both correct?