Difference between revisions of "Econometric MachineLearning"
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What is econometrics? | What is econometrics? | ||
Econometrics is the quantitative application of statistical and mathematical models using data to develop theories or test existing hypotheses in economics and to forecast future trends from historical data. It subjects real-world data to statistical trials and then compares and contrasts the results against the theory or theories being tested(investopedia). | Econometrics is the quantitative application of statistical and mathematical models using data to develop theories or test existing hypotheses in economics and to forecast future trends from historical data. It subjects real-world data to statistical trials and then compares and contrasts the results against the theory or theories being tested(investopedia). | ||
In this definition, we can also distinguish: | |||
## Quantitative application ## | |||
## statistical and mathematical model ## | |||
## input historical data ## | |||
## Foundations: theories and hypotheses in economics ## | |||
## Purpose: forecasting, prediction ## | |||
= Econometric = | = Econometric = | ||
Revision as of 19:07, 11 December 2019
Econometric Vs Machine learning
This contribution, through a review of the available literature, seeks to analyze and evaluate the links between econometric and machine-learning techniques that have been researched in the context of economic and to identify areas or problems in the real-time economic prediction that have been inadequately explored and are potential areas for further research.
What is econometrics?
Econometrics is the quantitative application of statistical and mathematical models using data to develop theories or test existing hypotheses in economics and to forecast future trends from historical data. It subjects real-world data to statistical trials and then compares and contrasts the results against the theory or theories being tested(investopedia). In this definition, we can also distinguish:
- Quantitative application ##
- statistical and mathematical model ##
- input historical data ##
- Foundations: theories and hypotheses in economics ##
- Purpose: forecasting, prediction ##