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QUANTITATIVE POLICY MODELLING IN AGRICULTURAL ECONOMICS
Author(s) -
Thomson K. J.,
Rayner A. J.
Publication year - 1984
Publication title -
journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.157
H-Index - 61
eISSN - 1477-9552
pISSN - 0021-857X
DOI - 10.1111/j.1477-9552.1984.tb02044.x
Subject(s) - context (archaeology) , representation (politics) , model building , econometric model , economics , selection (genetic algorithm) , model selection , policy analysis , agriculture , econometrics , regional science , management science , public economics , computer science , political science , sociology , ecology , politics , public administration , geography , physics , archaeology , quantum mechanics , artificial intelligence , machine learning , law , biology
The paper reconsiders the topic of McClements' 1973 article on model‐building but does so in the particular context of policy modelling. Some principles are discussed, along with the relationship of the real world to its representation in a model built for a specific purpose. The assumptions and implications of the econometric and time‐series approaches to policy modelling are contrasted, and lessons drawn for model specification and selection. The management, use and dissemination of policy models are also discussed. It is hoped that the experience of the last ten or fifteen years will lead to model‐building in agricultural economics being better organised and more rewarding in future.