Sunday , January 26 2020
Home / Real-World Economics Review / Three types of models – 5

Three types of models – 5

Summary:
From Asad Zaman It is important to understand that there are three type of models, corresponding the following diagram. The simplest type of model is a pattern in the data that we observe. A second type of model is a “mental model”. This is a structure we create in our own minds, in order to understand the patterns that we see in the observations. The third type of model is a structure of the hidden real world, which generates the patterns that we see. Some examples will be helpful in clarifying these ideas about the typology of models. Empirical Models: The simplest kind of model consists of a pattern that we see in the observations. For example, read more

Topics:
Asad Zaman considers the following as important:

This could be interesting, too:

V. Ramanan writes Alexander Zevin On Citations Needed

Peter Radford writes Political Economy?

Dan Crawford writes Open thread Jan. 24, 2020

run75441 writes Senate Impeachment Trial Day 3, Opening Arguments from Representative Adam Schiff : January 22, 2019

from Asad Zaman

It is important to understand that there are three type of models, corresponding the following diagram. The simplest type of model is a pattern in the data that we observe. A second type of model is a “mental model”. This is a structure we create in our own minds, in order to understand the patterns that we see in the observations. The third type of model is a structure of the hidden real world, which generates the patterns that we see. Some examples will be helpful in clarifying these ideas about the typology of models.

Three types of models – 5

Empirical Models: The simplest kind of model consists of a pattern that we see in the observations. For example, read more

Asad Zaman
Physician executive. All opinions are my personal. It is okay for me to be confused as I’m learning every day. Judge me and be confused as well.

Leave a Reply

Your email address will not be published. Required fields are marked *