10. 4-step model reprise and forecasting
The first part of this lecture gives an outline of the course. Overviews of previously discussed modelling approaches and special issues are given. Thereafter, comments on aggregate and disaggregate models, feedbacks, multi-modality and nested logit are given. Next, it is explained how to apply a model in practice. It is elaborated how to cope with the fact that models are a simplification of reality and how this affects forecasting. The lecture concludes with an introduction of the coming guest lectures.



