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Algebra: Descriptive and Prescriptive Models

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Explain the difference between descriptive and prescriptive (optimization) models. Please be detailed.

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Solution Summary

The solution explains the difference between descriptive and prescriptive (optimization) models with examples.

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Introduction

Modelling is a powerful tool for describing, analyzing, operating and evaluating complex systems. It provides an efficient means of communication within the scientific community and between it and policy takers. By definition, models are a simplification of reality and have been defined as 'a description of the essential aspects of a system, which represent knowledge of that system in a usable form.' This reflects that models do not include everything, and that this simplification of reality makes models ...

Solution provided by:
Chris Busu, PhD (IP)
Education
  • BSc, University of Bucharest
  • MSc, Ovidius
  • MSc, Stony Brook
  • PhD (IP), Stony Brook
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