KNOWLEDGE ACQUISITION THROUGH ECONOMIC PARAMETER IDENTIFICATION BY MEANS OF MODELING AND DIMENSIONAL ANALYSIS

Dimitris F. Batzias
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Dimitris F. Batzias: Department of Industrial Management and Technology, University of Piraeus, Karaoli & Dimitriou 80, 18534, Piraeus, Greece

Chapter 68 in Marketing and Management Sciences, 2010, pp 395-403 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractA methodology for knowledge acquisition through economic parameter identification under the form of an algorithmic procedure has been developed, based on mechanismic modeling and dimensional analysis. Its validity is shown by means of a paradigm, combining modified models initially proposed by Samuelson and Duesenberry. The mechanismic modeling approach promotes knowledge to deeper phenomenological levels by increasing information granularity of each parameter. The dimensional analysis approach increases the number of dimensionless groups acting as independent variables in the final empirical regression model. The former approach is more valuable to Economic Theory while the latter is useful in cases when causal/analytic relations are weak or lost in the context complexity. Nevertheless, both approaches contribute to economic knowledge acquisition in theory and practice.

Keywords: Management, Organizational Behavior, Marketing; Negotiation, Dynamic Models, International Business, Strategic Business, Human Resource, (search for similar items in EconPapers)
JEL-codes: O30 (search for similar items in EconPapers)
Date: 2010
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