Econometrics and Management Science: Their Overlap and Interaction

H. Thiel
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H. Thiel: International Center for Management Science

Management Science, 1965, vol. 11, issue 8, B200-B212

Abstract: This is an expository article on the relationship of econometrics and management science. After some general observations it considers a number of applications, such as prediction on the basis of input-output models and of econometric macromodels and decision-making based on linear decision rules. These rules are applied to cost minimization in a factory and welfare maximization for a country as a whole. In the last part of the paper some attention is paid to uncertainty problems with respect to the constraints subject to which maximization or minimization takes place.

Date: 1965
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:11:y:1965:i:8:p:b200-b212

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