System Dynamics Versus Econometrics—An Approach for Synthesis

  • Apel H
  • Fassing W
  • Meissner W
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Abstract

Repeating the well-known statement system dynamics—in short SD—has been characterized as a unique tool for analyzing data-deficient social systems. Whether SD in fact amounts to greater realism in modelling social systems has, however, been questioned, To the econometrician the typical SD approach in tackling problems of social research must seem suspect, too, less emphasis being placed on empirical validity of SD models. Instead validity is the central theme in econometric research. Differences between econometrics and SD are, at first, fundamentally methodological. They are also due, however, to basically different scopes in modelling social processes.

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Apel, H., Fassing, W., & Meissner, W. (1978). System Dynamics Versus Econometrics—An Approach for Synthesis. In Applied General Systems Research (pp. 347–359). Springer US. https://doi.org/10.1007/978-1-4757-0555-3_25

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