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In their comments on "Models of Fact", Charnes, Cooper, DeVoe and Learner [Charnes, A., W. W. Cooper, J. K. DeVoe, D. B. Learner. 1971. Models of fact and laws of behaviour. Management Sci. 17 367-369.] state that they will avoid a direct reply to my claims and criticisms. In following this...
Persistent link: https://www.econbiz.de/10009214565
The first step in model-building is to note some simple observable patterns and to establish their degree of empirical generalisation. The second step is to integrate different empirical relationships of this kind. This is where the more complex mathematical models come in. Two examples of...
Persistent link: https://www.econbiz.de/10009196995