Empirical modeling involves the development of models that explain, predict, or simulate a particular aspect of the world, rather than purely theoretical or abstract principles. Empirical modeling ...

This textbook gives an overview of the spectrum of modeling techniques, deterministic and stochastic methods, and first-principle and empirical solutions. Complete range: The text continuously covers ...

An important feature of an economic model is that it is necessarily subjective in design because there are no objective measures of economic outcomes. Different economists will make different ...

An important feature of an economic model is that it is necessarily subjective in design because there are no objective measures of economic outcomes. Different economists will make different ...

Black, Fischer, Michael C. Jensen, and Myron Scholes. "The Capital Asset Pricing Model: Some Empirical Tests." In Studies in the Theory of Capital Markets, edited by ...