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Knowledge Acquisition Through Economic Parameter Identification By Means Of Modeling And Dimensional Analysis

In: Marketing And Management Sciences

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  • DIMITRIS F. BATZIAS

    (Department of Industrial Management and Technology, University of Piraeus, Karaoli & Dimitriou 80, 18534, Piraeus, Greece)

Abstract

A 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.

Suggested Citation

  • Dimitris F. Batzias, 2010. "Knowledge Acquisition Through Economic Parameter Identification By Means Of Modeling And Dimensional Analysis," World Scientific Book Chapters, in: Damianos P Sakas & Nikolaos Konstantopoulos (ed.), Marketing And Management Sciences, chapter 68, pages 395-403, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781848165106_0068
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    Keywords

    Management; Organizational Behavior; Marketing; Negotiation; Dynamic Models; International Business; Strategic Business; Human Resource;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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