Specifying models according to amount of behavioral detail
As we indicated in Section 4.3, model detail can be considered from different angles. In this chapter we concern ourselves with the amount of behavioral detail a model contains. The “amount of behavioral detail” is not easily measured. Therefore, we use qualitative descriptions for a comparison of models in terms of behavioral detail. A higher level of behavioral detail usually implies that the model contains a larger number of variables, especially intervening variables (see Figure 10.1). It also tends to mean more equations and more parameters to estimate.
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