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Econometrics and Management Science: Their Overlap and Interaction

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  • H. Thiel

    (International Center for Management Science)

Abstract

This is an expository article on the relationship of econometrics and management science. After some general observations it considers a number of applications, such as prediction on the basis of input-output models and of econometric macromodels and decision-making based on linear decision rules. These rules are applied to cost minimization in a factory and welfare maximization for a country as a whole. In the last part of the paper some attention is paid to uncertainty problems with respect to the constraints subject to which maximization or minimization takes place.

Suggested Citation

  • H. Thiel, 1965. "Econometrics and Management Science: Their Overlap and Interaction," Management Science, INFORMS, vol. 11(8), pages 200-212, June.
    • Handle: RePEc:inm:ormnsc:v:11:y:1965:i:8:p:b200-b212
    DOI: 10.1287/mnsc.11.8.B200
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