Titlebook: Dynamic Systems in Management Science; Design, Estimation a Alexis Lazaridis Book 2015 The Editor(s) (if applicable) and The Author(s) 2015

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,Raumverst?ndnisse und Theorien zu R?umen,We’ll see next the use of variables taking the value 1 or 0 (zero) as explanatory variables. Usually, but not necessarily these variables are denoted with the letter d. Note also that the situation or category marked with zero plays the role of the reference category.

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Ina Bieber,Manuela S. BlumenbergPooled time, cross-section data contain information for cross-section entities (such as individuals, firms, households, countries etc.) over a number of time periods. The resultant models are usually referred to as panel data regression models.

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Prerequisites for Contemporary Econometrics and Systems ModellingFor analytical purposes, it is much more convenient to express any economic relationships in terms of mathematical equations so that we can apply various estimation methods and optimization techniques to derive economic policy in quantitative terms. Below we provide a simple example in terms of a plain consumption function.

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Dummy or Control Variables and Additional TestsWe’ll see next the use of variables taking the value 1 or 0 (zero) as explanatory variables. Usually, but not necessarily these variables are denoted with the letter d. Note also that the situation or category marked with zero plays the role of the reference category.

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Overview: Dynamic Systems in Management Science explores the important gaps in the existing literature on operations research and management science by providing new and operational methods which are tested in practical environment and a variety of new applications.978-1-137-50892-8