Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

5/28/2012

Econometric Analysis of Count Data Review

Econometric Analysis of Count Data
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excellent. the book provides good examples and helps the readers to relate the huge literature and how one paper is related to another one.

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The book provides an up-to-date survey of statistical and econometric techniques for the analysis of count data, with a focus on conditional distribution models. The book starts with a presentation of the benchmark Poisson regression model. Alternative models address unobserved heterogeneity, state dependence, selectivity, endogeneity, underreporting, and clustered sampling. Testing and estimation is discussed. Finally, applications are reviewed in various fields.

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5/09/2012

Modeling in Natural Resource Economics: Forecasting Electricity Demand, and SimulatingLandowner Response to Wildfire Risk Review

Modeling in Natural Resource Economics: Forecasting Electricity Demand, and SimulatingLandowner Response to Wildfire Risk
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One of the most compelling discussions of natural resource modeling with regards to assessing the pros and cons of publicly financed fire suppression that I've read.

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This work presents three modeling techniques appliedto natural resource economics. Chapter I makes use ofordinary least-squares regression analysis (OLS) toinvestigate the effects of climate warming onelectricity demand. Using hourly models and data forthe U.S. mid-Atlantic, the model predicts a 4.6%Chapter II offers an introduction to modeling withartificial neural networks (ANNs) for researchersfamiliar with OLS techniques. The general form of anANN is shown to be equivalent to a nested series ofOLS models. The forecasting exercise from Chapter Iis recast in the ANN framework to provide an exampleof applying ANNs to economic studies, including ananalysis of the forecast residuals. Chapter III presents a model of forest-landownerbehavior in the context of managing timberlandsubject to wildfire. The model is used to examine theimpacts of externalities associated with fire risk:(1) the public-good aspect of privately funded fireprevention, and (2) moral hazard associated withpublicly funded fire suppression. Chapter IIIconcludes with a consideration of policy options foraddressing these externalities.

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4/27/2012

Macroeconomic Issues: Their Relationship to Fiscal Policy Formulation, Forecasting, Prediction, and Computer Simulation Modeling Review

Macroeconomic Issues: Their Relationship to Fiscal Policy Formulation, Forecasting, Prediction, and Computer Simulation Modeling
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Macroeconomic Issues is an economics primer that walks students through economic theory from early historical models through current economic trends such as gaming models, forecasting, and the current economic downturn. Author Nicholas Jewczyn (JEFF-sin) serves up an eminently readable but brief explanation of macroeconomic theory that is a must-read for any student of economics, particularly those who want a concise-but-thorough explanation of the field.
Jewczyn avoids the dismal science in his historical survey of economic thought in the first section of the book. His comparison of the three historical schools of economics, the classicist model, the Keynesian model, and the monetarist model is understandable even to a reader with a non-economic background. He explains the foundational principles of macroeconomics such as Adam Smith and the Invisible Hand, John Maynard Keynes' arguments for interventionist government economic policy and Milton Friedman's advocacy of private sector ascension in his monetarist theory. Jewczyn provides a fair treatment of each of the historical schools of thought and even includes commentaries by contemporary theorists who point out the strengths and limitations of the historical theories.

The second section of the book begins with an annotated bibliography of current research in macroeconomics. This section transitions comfortably from the historical background to the current state of the art. This section provides a competent overview for students of economics who want to understand the topic in an afternoon. This section requires the reader to slow down in order to fully understand all the new information being presented. It is also helpful for a reader to know some economic terms in order to follow all of the ideas. The concepts are understandable, especially with re-reading, even if the terms are unfamiliar. With time, even a naïve reader can grasp the current trends in economics.

The third section of this book is a tightly-argued application of economic theory to risk theory and econometrics. It analyzes the assumptions of current models and applies them to many theories of computer modeling. A reader needs an adequate background of economic theory in order to fully appreciate this third section, but the previous chapters provide the tools to apply to an understanding of this rather complex topic.

Macroeconomics can be a very dense topic, especially for someone new to the theories. Macroeconomic Issues by Nicholas Jewczyn may require more than one reading in order to fully appreciate its scope, but it is a rare book that can take the reader from 0-60 in 200 pages. Anyone with more than a passing interest in economic theory can use this book to become conversant on the topic in a very short time. This book is especially recommended for economics students who want to get a jumpstart on their education. It is an ideal complement to any economics course.

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Many consumers have been mystified by Economics in general and the economy in particular. This book finally lifts the veil of Economics and exposes the public to: the foundational theory of Economics by the primary theorists in the field; current, cutting-edge research; and some practical uses of the subject matter by businesspeople, the government and consumers. This book is a "must-read" for those interested in the foundations of our present economy and the knowledge necessary to understand the future of economic growth.

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4/21/2012

Applied Econometrics Using the SAS System Review

Applied Econometrics Using the SAS System
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This book provides an introduction to a variety of analytical methods and how to implement them using SAS. Each topic covered starts with a concise overview of the theory, and demonstrates how to implement the method using matrix algebra with SAS IML, then discusses examples using the relevant SAS procedures. Many of the examples are drawn from standard textbooks used for university econometrics courses. Very few colleges seem to use SAS as the programming environment for econometrics or statistics courses even though SAS is pervasive in the business world where most students will spend their working careers. This book will be useful for both students and practitioners.

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The first cutting-edge guide to using the SAS® system for the analysis of econometric data
Applied Econometrics Using the SAS® System is the first book of its kind to treat the analysis of basic econometric data using SAS®, one of the most commonly used software tools among today's statisticians in business and industry. This book thoroughly examines econometric methods and discusses how data collected in economic studies can easily be analyzed using the SAS® system.
In addition to addressing the computational aspects of econometric data analysis, the author provides a statistical foundation by introducing the underlying theory behind each method before delving into the related SAS® routines. The book begins with a basic introduction to econometrics and the relationship between classical regression analysis models and econometric models. Subsequent chapters balance essential concepts with SAS® tools and cover key topics such as:

Regression analysis using Proc IML and Proc Reg

Hypothesis testing

Instrumental variables analysis, with a discussion of measurement errors, the assumptions incorporated into the analysis, and specification tests

Heteroscedasticity, including GLS and FGLS estimation, group-wise heteroscedasticity, and GARCH models

Panel data analysis

Discrete choice models, along with coverage of binary choice models and Poisson regression

Duration analysis models

Assuming only a working knowledge of SAS®, this book is a one-stop reference for using the software to analyze econometric data. Additional features include complete SAS® code, Proc IML routines plus a tutorial on Proc IML, and an appendix with additional programs and data sets. Applied Econometrics Using the SAS® System serves as a relevant and valuable reference for practitioners in the fields of business, economics, and finance. In addition, most students of econometrics are taught using GAUSS and STATA, yet SAS® is the standard in the working world; therefore, this book is an ideal supplement for upper-undergraduate and graduate courses in statistics, economics, and other social sciences since it prepares readers for real-world careers.

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4/12/2012

Risk Analysis of Complex and Uncertain Systems (International Series in Operations Research & Management Science) Review

Risk Analysis of Complex and Uncertain Systems (International Series in Operations Research and Management Science)
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This is an excellent, approachable read for any risk manager; understanding its examples requires only elementary probability, statistics and calculus, though the foundations are much deeper. The author uses direct language, and does not hesitate to declare a fashionable risk analysis technique "worse than useless." The author shows how not to do risk analysis, using simple but devastating examples to illustrate the weaknesses of prioritized investments, subject matter expert opinion, risk matrices and qualitative risk assessments, and the independence assumption. Then, case studies present constructive examples of good practice. Refreshingly, this text clearly distinguishes between threats from Mother Nature, and those posed by an intelligent adversary. There is unevenness, because this is an edited ensemble of papers originally published in a variety of technical journals; however, this is also a strength, because the appeal and scholarship underlying biological, engineering, and social science examples is broad. This is not a how-to guide, and won't help fill in a blank page risk analysis; however, this is an excellent source for the skeptical consumer of contemporary risk management advice and products, and hopefully will have some influence with policy makers who are the source of simplistic and dangerous guidance.

Gerald G. Brown
Distinguished Professor of Operations Research
Naval Postgraduate School
National Academy of Engineering
INFORMS Fellow


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In Risk Analysis of Complex and Uncertain Systems acknowledged risk authority Tony Cox shows all risk practitioners how Quantitative Risk Assessment (QRA) can be used to improve risk management decisions and policies. It develops and illustrates QRA methods for complex and uncertain biological, engineering, and social systems - systems that have behaviors that are just too complex to be modeled accurately in detail with high confidence - and shows how they can be applied to applications including assessing and managing risks from chemical carcinogens, antibiotic resistance, mad cow disease, terrorist attacks, and accidental or deliberate failures in telecommunications network infrastructure. This book was written for a broad range of practitioners, including decision risk analysts, operations researchers and management scientists, quantitative policy analysts, economists, health and safety risk assessors, engineers, and modelers.

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1/30/2012

Modeling Online Auctions (Statistics in Practice) Review

Modeling Online Auctions (Statistics in Practice)
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This book can be read as a sequel to an earlier text, Statistical Methods in e-Commerce Research (Statistics in Practice). That looked at various types of websites, like Amazon and Wikipedia, while the current offering specialises to the key case of studying auction websites. Of these, eBay dominates the discussion, simply because it is the largest such website on the Internet. In a way, the exposition is simpler than it might have been just a few years ago, when Amazon and Yahoo also ran auctions. They were keying off eBay's success and hoped to take some of that business. But their efforts came to nought, so that now if you study online auctions, it is really only eBay and a handful of much smaller entities like uBid.
The screen captures in chapter 2 of typical web pages from an auction [on eBay] shows the complex spaghetti-like source code. Note that if you do decide to screen scrape, then this is brittle, since if the website makes just minor changes in the format of their pages, extensive changes to your parsing might be necessary, to extract the same information. But as the authors make clear, screen scraping has the advantage of being free. An alternative is to use a Web Service, if that is offered by the website. Much more efficient and robust. But not all websites have this, and those that do could require payment. Plus the information offered by their Web Service might not include data that you need.
Chapter 3 tackles the problem of how to simulate data using continuous distributions, when actual auction data often looks like a mixture of continuous and spiky inputs, where the latter are bids of high frequency, that stand significantly above the rest of the bid distribution.
Chapter 4 discusses various models - exponential, log, logistic and inverse logistic, that can be used to model a given auction. But the problem is that across a set of auctions, even for instances of the same item being offered, all such models might be observed. Where a specific auction could be best fitted by a log, say, while another auction looks like a logistic. The authors suggest a "Beta()" function that has only 2 parameters. This turns out to be easy to compute, and, depending on the choices of parameter values, can replicate each of the 4 earlier models. Just as importantly, the fitting of a Beta to a given auction can be automated, which gets around an earlier problem of having to make a manual choice between one of the earlier models.
Perhaps as interestingly, the chapter goes further, into studying what the book calls the spatial similarity between auctions. The spatial refers to auctions where items differ slightly. For example, a gaming computer that has different colours, and different disk sizes and different memory sizes installed. This is a multidimensional feature space, where the features might differ continuously [like memory] or discretely [like colour]. It reflects the well known attraction of eBay where if you search for a popular item, you can find hundreds [or even thousands] that differ in parameters like these. Modelling the behaviour of bidders when confronted by a surfeit of choices would be good. The authors show a way to tackle how to define a metric in the feature space.

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Explore cutting-edge statistical methodologies for collecting, analyzing, and modeling online auction data
Online auctions are an increasingly important marketplace, as the new mechanisms and formats underlying these auctions have enabled the capturing and recording of large amounts of bidding data that are used to make important business decisions. As a result, new statistical ideas and innovation are needed to understand bidders, sellers, and prices. Combining methodologies from the fields of statistics, data mining, information systems, and economics, Modeling Online Auctions introduces a new approach to identifying obstacles and asking new questions using online auction data.
The authors draw upon their extensive experience to introduce the latest methods for extracting new knowledge from online auction data. Rather than approach the topic from the traditional game-theoretic perspective, the book treats the online auction mechanism as a data generator, outlining methods to collect, explore, model, and forecast data. Topics covered include:
Data collection methods for online auctions and related issues that arise in drawing data samples from a Web site
Models for bidder and bid arrivals, treating the different approaches for exploring bidder-seller networks
Data exploration, such as integration of time series and cross-sectional information; curve clustering; semi-continuous data structures; and data hierarchies
The use of functional regression as well as functional differential equation models, spatial models, and stochastic models for capturing relationships in auction data
Specialized methods and models for forecasting auction prices and their applications in automated bidding decision rule systems

Throughout the book, R and MATLAB software are used for illustrating the discussed techniques. In addition, a related Web site features many of the book's datasets and R and MATLAB code that allow readers to replicate the analyses and learn new methods to apply to their own research.
Modeling Online Auctions is a valuable book for graduate-level courses on data mining and applied regression analysis. It is also a one-of-a-kind reference for researchers in the fields of statistics, information systems, business, and marketing who work with electronic data and are looking for new approaches for understanding online auctions and processes.
Visit this book's companion website by clicking here

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12/24/2011

8W8 - Global Space Tribes: a post-modern journey through globalization in the internet age powered by the world modeling engine 8W8 Review

8W8 - Global Space Tribes: a post-modern journey through globalization in the internet age powered by the world modeling engine 8W8
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Ralf Hirt's 8W8 Global Space Tribes goes beyond the concept of a flat
world, it draws the reader into a virtual "What if?" reality. What if
the Internet could be used to erase national borders and
ethno-cultural divides creating entirely new social systems... global
space tribes!
Taking a ride in Hirt's 8W8 Global Space Tribes' Helicopter is more
than experiencing the Web 3.0 envisioned by Tim Berners-Lee as "an
overlay of scalable vector graphics (with) everything rippling and
folding and looking misty:" it's entering a 5-D world where Time and
Space serve as connective tissue further compressing an already
flattened world.
Eschewing technical jargon that could alienate the average
non-techgeek, Hirt, instead, introduces the reader to 15 individuals
who call themselves the Golden Sky. They are an IT think tank composed
of international business people, lawyers, politicians,
environmentalists, a musician, a doctor and a philosopher, all of whom
share one thing in common--a futuristic vision of the future. They come
together on the Big Island of Hawaii, in the home of one of their
members, Winston Chee, an IT entrepreneur, for a week-long break out
in which they intend to focus on an IT conundrum: how to make the
invisible, visible.
The author cleverly uses the house, itself, as a living entity that,
in many ways, embodies many of the same elements as their quest.
Called EA-RA, it is a six-story mansion built into the side of a
mountain. It's exterior is a semicircular sheet of black glass infused
with golden fiber which faces south and stretches in a semicircle 180
degrees from east to west. The effect is that it not only catches the
sunrise but the setting sun as well, all the while reflecting the
sun's rays like a golden mirror. Unseen and undetected from outside is
the vast interior which encloses a self-sustaining environment
including a farm on its ground floor, the entire panoply and
requisites of a modern spa and convention center on the the five top
floors, all of which are hidden from view to the outside observer.
The hero of the piece is a San Francisco based IT journalist called
Oskar Kiernan Feller, or more commonly called by his friends, O.K.
Fellow. He is probably a manifestation of the author, himself,
conflicted and driven. It is O.K. Fellow whom we first meet as he sits
in an airplane flying from San Francisco to an IT conference in
Berlin. It is a trip he has made many times in the past, but on this
trip he is gripped with a sense of anxiety. He has flown millions of
miles without an incident, but his mind has made a calculation that at
some point there had to be a "statistical fluctuation" which might
result in...? He tries to stop thinking about it by repeating a mantra
silently to himself.
Ultimately, somewhere over St. Louis he experiences an existential
moment when he begins to question what he is seeing. That results in a
dialectical switch where, for a moment, he is watching himself trying
to find like-minded individuals among the houses and buildings below.
We are introduced to all the main characters in the first two
chapters. Except for their different vocations, they all share the
same uneasiness as O.K. Fellow. They want to see the unseen elements
of their world. For some, it's a search to find people as
themselves,for the others, it is to be able to see the actual flow of
elements into streams and rivers which make up what they call "Global
Space Tribes."
Eventually, they develop the concept of a virtual helicopter which
they imagine could hover above the earth with an instrument panel.
This tool could discern hidden values from single elements to
concentrations of elements, "mountains," as they eventually see them.
This is a fast and enjoyable read for both the lay reader as well as
the technophile.

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8W8 - Global Space Tribes is a new way to see the world. It is written for everyone who uses the Internet, travels and is interested in any aspect of the world in the 21st century. The Golden Sky is a community comprised of 15 charismatic Internet activists from the worlds of business, finance, media, government, bio sciences, medicine, social and religious activists and environmentalists. They came together to meet on Hawaii in the fantastically beautiful mountain home, EA-RA, of the Chinese Internet billionaire, Winston Chee. There they develop a new world modeling engine, ultimately named, 8W8, which would find the invisible digital elements, i.e. the online population and digital activities, and render them visible to the world stake holding factors they define.Global Space Tribes are the Internet users The Golden Sky is able to identify with 8W8. They exist out of elements that come together in streams and interconnect with other streams around the world and can be visualized and volumized from the cockpit of the 8W8 world modeling engine, which The Golden Skyers dubbed the 8W8 Helicopter for the purpose of entering virtual rides. The pilot of the 8W8 Helicopter, albeit, an Internet user, a marketer, a traveler or political candidate or simply "You" of any background, could virtually ride over the flattened but fragmented world identifying subjectively or objectively new virtual structures, tracking the flow and concentrations of criteria such as: the presence or lack of wealth, trade, interconnectivity, beliefs, environmental conditions, peace record, happiness, and any other factors that are normally invisible for the naked eye. When BridgeMan, Winston's business partner from San Francisco, comes to EA-RA and learns about 8W8, he saw an immediate benefit for himself and the world in general. He extolled the concept as a way of making the invisibilities of the 21st century visible and of improving the state of the world...

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12/07/2011

Structural Equation Modeling with LISREL: Essentials and Advances Review

Structural Equation Modeling with LISREL: Essentials and Advances
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The book is best at presenting the theory and has excellent discussions of advanced estimation issues. The book, however, is not as useful in conveying the nuts and bolts of how to use LISREL.

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Hayduk is equally at ease explaining the simplest and most advanced applications of the program . . . Hayduk has written more than just a solid text for use in advanced graduate courses on statistical modeling. Those with a firm mathematical background who wish to learn about the approach, or those who know a little about the program and want to know more, will find this an excellent reference.

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11/18/2011

Two-Sided Matching: A Study in Game-Theoretic Modeling and Analysis (Econometric Society Monographs) Review

Two-Sided Matching: A Study in Game-Theoretic Modeling and Analysis (Econometric Society Monographs)
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This book is totally dedicated to matching theory. The book in itself is rather general, it doesn't focus on any particular application, and discusses matching as a general abstract theory. Therefore the book can be used by both micro- and macro people equally. It basically covers the problem of one-to-one and one-to-many matchings and tries to explain when equilibriums exist and if matches are unique or non-unique and comes with algorithms or constructive methods to actually do the matching. The structure of the book is mostly like math books and at each step presents an algorithm or a theorem or lemma that states a result. In most cases the proof comes afterwards. However this doesn't undermine the practicality of the book as you can easily locate the algorithm or theorem that embodies your required result and just use it. In my opinion this is one of those books you want to keep on your shelf and refer to every now and then when need be.

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Two-sided matching provides a model of search processes such as those between firms and workers in labor markets or between buyers and sellers in auctions. This book gives a comprehensive account of recent results concerning the game-theoretic analysis of two-sided matching. The focus of the book is on the stability of outcomes, on the incentives that different rules of organization give to agents, and on the constraints that these incentives impose on the ways such markets can be organized. The results for this wide range of related models and matching situations help clarify which conclusions depend on particular modeling assumptions and market conditions, and which are robust over a wide range of conditions.

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10/21/2011

Systems Science and Modeling for Ecological Economics Review

Systems Science and Modeling for Ecological Economics
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If you did not do modeling before and have no idea where to start from - this book is for you. It is well written and it is fun!
I had to do some modeling for a project that I have been working on. At that moment I did not have much experience in modeling, especially in modeling coupled economic and natural systems. I was looking for a good guide in ecological economic modeling but could not find anything user-friendly and interdisciplinary. I came across the web-course by Dr. Voinov and started it. The book is a great addition to the course. The web-course as well as this textbook lead you through the essential steps of model design and implementation, introduce you to main challenges and ways to resolve them, and give you some great illustrations from practical applications of ecological economics. I especially like that it provides not only the theory of modeling for ecological economics but also discusses software tools and gives you hands on experience with the exercises. I was very excited to see that the textbook is out there now. Enjoy!


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Modeling is a key component to sciences from mathematics to life science, including environmental and ecological studies. By looking at the underlying concepts of the software, we can make sure that we build mathematically feasible models and that we get the most out of the data and information that we have. This book shows how models can be analyzed using simple math and software to generate meaningful qualitative descriptions of system dynamics. This book shows that even without a full analytical, mathematically rigorous analysis of the equations, there may be ways to derive some qualitative understanding of general behavior of a system. By relating some of the modeling approaches and systems theory to real world examples the book illustrates how these approaches can help understand concepts such as sustainability, peak oil, adaptive management, optimal harvest and other practical applications. * Relates modeling approaches and systems theory to real world examples * Teaches students to build mathematically feasible models and get the most of our the data and information available* Wide range of applications in hydrology, population dynamics, market cycles, sustainability theory, management, and more

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10/20/2011

Empirical Modeling in Economics: Specification and Evaluation Review

Empirical Modeling in Economics: Specification and Evaluation
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This is probably the first and the last econometrics book I will have read just for fun! Although the title of the book sounds daunting, I found it very easy to read. If you are interested in intutions behind building econometric models, you should consider reading this book. A word of caution: if you want to find something that treats this subject rigorously, this may not be the book you want to buy. Just to have fun with econometrics is the general idea here.

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In these three essays, Professor Granger explains the process of constructing and evaluating an empirical model. Drawing on a wide range of cases and vignettes from economics, finance, politics and environment economics, as well as from art, literature, and the entertainment industry, Professor Granger combines rigor with intuition to provide a unique and entertaining insight into one of the most important subjects in modern economics. Chapter 1 deals with Specification. Chapter 2 considers Evaluation, and argues that insufficent evaluation is undertaken by economists, and that models should be evaluated in terms of the quality of their output. In Chapter 3, the question of how to evaluate forecasts is considered at several levels of increasing depth.

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8/31/2011

Modeling Monetary Economies Review

Modeling Monetary Economies
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Economists have a responsiblity to communicate as simply as possible. Too often complex mathematics are an egotistic tool of the economist that merely frustrates the reader. Champ and Freeman's Modeling Monetary Economies is a wonderful volume that explains tough issues in monetary economics by building upon Wallace and Bryant's overlapping generations (OLG) model.
The OLG framework is a very simple framework that has its limitations, yet it is a powerful explanatory device. Champ and Freeman apply it to the following exercises:
* Introduce money into an economy--any grad student of economics (as I once was) will tell you this is no simple task! We take money for granted, of course, but mathematical models tend to imply that money is unnecessary! Just getting money into an economic model without unreasonable assumptions is itself an accomplishment.
* Inflation--again, not easy to do in other mathematical models of money--and anticipated inflation
* International currency exchange and the indeterminancy of the exchange rate
* Central banking and changes to the money supply
* Banks and lending
* Deficits and the national debt
* The interaction of all of the above
The book also has exercises in it that apply and extend the models introduced in each chapter.
RECOMMENDATION
I recommend this book for advanced year undergrads (in mathematical econ programs) and graduate students. It really is a great book that builds a conceptual knowledge of the interaction of the various components of monetary economics. This is useful for understanding more complicated dynamic optimization models. And it provides models that are useful in their own right and relevant as the basis for further (ie., dissertation) research.

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The approach of this text is to teach monetary economics using the classical paradigm of rational agents in a market setting. Too often monetaryeconomics has been taught as a collection of facts about existing institutions for students to memorize. By teaching from first principles instead, the authors aim to instruct students not only in the monetary policies and institutions that exist today in the United States and Canada, but also in what policies and institutions may orshould exist tomorrow and elsewhere. The text builds on a simple, clear monetary model and applies this framework consistently to a wide variety of monetary questions. The authors have added in this third edition new material on money as a means of replacing imperfect social record keeping, the role of currency inbanking panics, and a description of the policies implemented to deal with the banking crises that began in 2007.

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8/19/2011

Structural Equation Modeling: A Second Course (Quantitative Methods in Education and the Behavioral Science) Review

Structural Equation Modeling: A Second Course (Quantitative Methods in Education and the Behavioral Science)
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This book fills an important niche, a sweet spot in between basic SEM texts such as Rex Kline's helpful beginner's book and more complex, advanced treatments of SEM such as Ken Bollen's classic 1989 Wiley text. Methodologists might argue that the latter text is intermediate rather than advanced, but practitioners and applied users of SEM who are not in the business of creating new methods but instead want to use SEM in a rigorous, productive way on applied analysis problems will find this text to be just the ticket to getting things done using SEM and tackling typical problems such as how to handle missing data and how to calculate power for goodness-of-fit tests and parameter estimates.
The editors have done a terrific job in working with the chapter authors to make all chapters accessible with helpful examples and consistent notation and terminology. This book, along with Loehlin's Latent Variable Models, is one I find myself pulling off my bookcase repeatedly to solve applied problems or to learn more about a particular SEM issue (modeling options for complex survey data, mixture modeling) quickly, yet comprehensively. Highly recommended.

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A volume in Quantitative Methods in Education and the Behavioral Sciences:Issues, Research, and Teaching
(sponsored by the American Educational Research Association's Special Interest Group:Educational Statisticians)
Series EditorRonald C. Serlin, University of Wisconsin-Madison
This volume is intended to serve as a didactically-oriented resource covering a broad range of advanced topics often not discussedin introductory courses on structural equation modeling (SEM). Such topics are important in furthering the understandingof foundations and assumptions underlying SEM as well as in exploring SEM as a potential tool to address new types ofresearch questions that might not have arisen during a first course. Chapters focus on the clear explanation and application oftopics, rather than on analytical derivations, and contain syntax and partial output files from popular SEM software.
CONTENTS: Introduction to Series, Ronald C. Serlin. Preface, Richard G. Lomax. Dedication. Acknowledgements. Introduction,Gregory R. Hancock & Ralph O. Mueller. Part I: Foundations. The Problem of Equivalent Structural Models, Scott L.Hershberger. Formative Measurement and Feedback Loops, Rex B. Kline. Power Analysis in Covariance Structure Modeling,Gregory R. Hancock. Part II: Extensions. Evaluating Between-Group Differences in Latent Variable Means, Marilyn S.Thompson & Samuel B. Green. Using Latent Growth Models to Evaluate Longitudinal Change, Gregory R. Hancock & FrankR. Lawrence. Mean and Covariance Structure Mixture Models, Phill Gagné. Structural Equation Models of Latent Interactionand Quadratic Effects, Herbert W. Marsh, Zhonglin Wen, & Kit-Tai Hau. Part III: Assumptions. Nonnormal and CategoricalData in Structural Equation Modeling, Sara J. Finney & Christine DiStefano. Analyzing Structural Equation Models withMissing Data, Craig K. Enders. Using Multilevel Structural Equation Modeling Techniques with Complex Sample Data,Laura M. Stapleton. The Use of Monte Carlo Studies in Structural Equation Modeling Research, Deborah L. Bandalos. Aboutthe Authors.

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8/17/2011

A First Course in Structural Equation Modeling Review

A First Course in Structural Equation Modeling
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This book does a good job of explaining the basic concepts involved in SEM, path analysis, and CFA in easy to understand terms. Also, it lays out syntax and output for running popular SEM programs, such as LISREL, EQS, and Mplus. This book is perfect for the person who is trying to learn SEM on their own. I think it gives you enough to be able to know how to run a SEM, but it isn't enough to really make you a pro at it.

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In this book, authors Tenko Raykov and George A. Marcoulides introduce students to the basics of structural equation modeling (SEM) through a conceptual, nonmathematical approach. For ease of understanding, the few mathematical formulas presented are used in a conceptual or illustrative nature, rather than a computational one.Featuring examples from EQS, LISREL, and Mplus, A First Course in Structural Equation Modeling is an excellent beginner's guide to learning how to set up input files to fit the most commonly used types of structural equation models with these programs. The basic ideas and methods for conducting SEM are independent of any particular software.Highlights of the Second Edition include:' Review of latent change (growth) analysis models at an introductory level' Coverage of the popular Mplus program' Updated examples of LISREL and EQS' A CD that contains all of the text's LISREL, EQS, and Mplus examples.A First Course in Structural Equation Modeling is intended as an introductory book for students and researchers in psychology, education, business, medicine, and other applied social, behavioral, and health sciences with limited or no previous exposure to SEM. A prerequisite of basic statistics through regression analysis is recommended. The book frequently draws parallels between SEM and regression, making this prior knowledge helpful.

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