Model Building – A Circular Approach to Evaluate Multidimensional Patterns and Operationalized Procedures

Franz Haas
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Franz Haas: University of Latvia

Expert Journal of Business and Management, 2017, vol. 5, issue 2, 136-141

Abstract: Managers operate in highly different fields. Decision-making can be based on models reflecting in part these differences. The challenge is to connect the respective models without too great a disruption. A threefold procedural approach is proposed by chaining a scheme of modeling in a complex field to an operationalized model to statistical multivariate methods. Multivariate pattern-detecting methods offer the chance to evaluate patterns within the complex field partly. This step completes the cycle of research and improved models can be used in a further cycle.

JEL-codes: M00 (search for similar items in EconPapers)
Date: 2017
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