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Structural Equation Models
Structural equation modeling (SEM) is a diverse set of methods used by scientists for both observational and experimental research. SEM is used mostly in the social and behavioral science fields, but it is also used in epidemiology, business, and other fields. A common definition of SEM is, "...a class of methodologies that seeks to represent hypotheses about the means, variances, and covariances of observed data in terms of a smaller number of 'structural' parameters defined by a hypothesized underlying conceptual or theoretical model,". SEM involves a model representing how various aspects of some phenomenon are thought to causally connect to one another. Structural equation models often contain postulated causal connections among some latent variables (variables thought to exist but which can't be directly observed). Additional causal connections link those latent variables to observed variables whose values appear in a data set. The causal connections are represented using ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Econometrics
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. M. Hashem Pesaran (1987). "Econometrics", '' The New Palgrave: A Dictionary of Economics'', v. 2, p. 8 p. 8–22 Reprinted in J. Eatwell ''et al.'', eds. (1990). ''Econometrics: The New Palgrave''p. 1 p. 1–34Abstract ( 2008 revision by J. Geweke, J. Horowitz, and H. P. Pesaran). More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference." An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships." Jan Tinbergen is one of the two founding fathers of econometrics. The other, Ragnar Frisch, also coined the term in the sense in which it is used today. A basic tool for econometrics is the multiple linear regression model. ''Econome ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
