Model Validation: An Overview with some Emphasis on Risk Models

Model validation is a topic which has a long history in the literature This article attempts to focus much of the previous discussion upon agricultural economics models. True model validation is not possible. Nevertheless, model validation exercises improve the relevancy of models and strengthen the theoretical oasis for modelling. Procedures are given for conducting validation exercises and for dealing with models which fail such exercises. In addition. comments appear on considerations involved with the validation of risk models.


Issue Date:
1984-12
Publication Type:
Journal Article
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/12282
PURL Identifier:
http://purl.umn.edu/12282
Published in:
Review of Marketing and Agricultural Economics, 52, 03
Page range:
153-173
Total Pages:
21




 Record created 2017-04-01, last modified 2020-10-28

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