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Continuous Time Modeling in the Behavioral and Related Sciences (Hardcover, 1st ed. 2018)
Loot Price: R3,203
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Continuous Time Modeling in the Behavioral and Related Sciences (Hardcover, 1st ed. 2018)
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This unique book provides an overview of continuous time modeling
in the behavioral and related sciences. It argues that the use of
discrete time models for processes that are in fact evolving in
continuous time produces problems that make their application in
practice highly questionable. One main issue is the dependence of
discrete time parameter estimates on the chosen time interval,
which leads to incomparability of results across different
observation intervals. Continuous time modeling by means of
differential equations offers a powerful approach for studying
dynamic phenomena, yet the use of this approach in the behavioral
and related sciences such as psychology, sociology, economics and
medicine, is still rare. This is unfortunate, because in these
fields often only a few discrete time (sampled) observations are
available for analysis (e.g., daily, weekly, yearly, etc.).
However, as emphasized by Rex Bergstrom, the pioneer of
continuous-time modeling in econometrics, neither human beings nor
the economy cease to exist in between observations. In 16 chapters,
the book addresses a vast range of topics in continuous time
modeling, from approaches that closely mimic traditional linear
discrete time models to highly nonlinear state space modeling
techniques. Each chapter describes the type of research questions
and data that the approach is most suitable for, provides detailed
statistical explanations of the models, and includes one or more
applied examples. To allow readers to implement the various
techniques directly, accompanying computer code is made available
online. The book is intended as a reference work for students and
scientists working with longitudinal data who have a Master's- or
early PhD-level knowledge of statistics.
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