The problems of data aggregation and of imperfect data in a capital goods market

Author: F. Bliemel

Abstract:

This study is based on a market simulation model for a capital goods market. This model delivers data about single industrial establishments using a particular capital good. The generated data ere about single establishments and consist of observations, that could be reasonably obtained. Establishment characteristics are specified in the model making it possible to segment the market by grouping establishments with common attributes. Some standard forecasting algorithms are applied to the data obtained. The resulting forecasts are compared with the actual outcomes from the model, and evaluation statistics are computed.

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