Die technischen Hilfsmittel für den Transport zu Wasser und zu Lande von Fleisch in gekühltem und gefrorenem Zustande

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Monograph

Identifikator:: 1014391997

URN:: urn:nbn:de:zbw-retromon-45965

Document type:: Monograph

Author:: Behrens, Franz http://d-nb.info/gnd/123458668

Title:: Die Deutsche Volksversicherung

Place of publication:: Berlin

Publisher:: Druck und Verlag: Vaterländische Verlags- und Kunstanstalt

Year of publication:: 1914

Scope:: 1 Online-Ressource (36 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Das Scheitern der Verhandlungen

Collection:: Economics Books

PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA ~ cerns time-horizons. Any discussion of how best to operate the economy so as to achieve certain ends involves comparisons over time and leads to a variational problem. In theory there is no reason to stop at any particular point in the future and so we are led to a consideration of an infinite time-horizon. Valuable insights can be gained by this method, as in RAMSEY’s theory of saving [34], but the weakness of the method from a practical point of view is that it calls for knowledge that we cannot possibly possess. This suggests that we should refor- mulate the problem with a finite, indeed fairly short time- horizon, a practice that is in fact adopted in all centrally plan- ned economies. c) Estimation. Having decided on the variables that are to enter into the model and on the forms of the relationships by which they are connected, the next thing to do is to estimate the parameters in these relationships. This may be a matter of simple arithmetic, as when an input-output coefficient is estimated by dividing the input of product j into product & by the output of product 2. So simple a method, however, is only resorted to when there is an extreme shortage of informa- tion; more generally statistical methods, and in particular re- gression analysis, are involved. In any case the estimation procedure that must inevitably be followed at the outset can be described as the econometric analysis of past observations. The methods of estimation available to econometricians have improved very considerably over the last generation. In par- ticular it has come to be realised from HAAVELMO’s original paper on the subject [16] that the fact that an economy is a system in which different influences may operate simultaneously has a bearing on the appropriate method of estimating economic relationships. This is called the problem of identification: in relating the price of a commodity to the quantity of it sold, how can we identify the parameter as a demand parameter, a sup- ply parameter or some mixture of the two; alternatively, how can we arrange our estimation procedure so that the estimate 1] Stone - pag. 12

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