Explain what are the features of a simple system versus those of a complex syste

Question

Explain what are the features of a simple system versus those of a complex system, provide an example where appropriate. explain what is meant by reductionism and overdetermination and how these concepts relate to economic theory.

*Just say what a simplie system is, no context.

Home Grades Personalized Reviews Discussion Course Materials mework 1 ded Assignment | Back to Assignment 18. Explain what are the features of a simple system versus those of a complex system, providing examples where appropriate. Due Sunday 06.24.18 at 11:4 Explain what is meant by reductionism and overdetermination, and how these concepts relate to economic theory (Required-10 points possible.)

Explanation / Answer

A simple system is the sytem in which the price bar crosses over the moving average, or when relative strength index(RSI) crosses due to overbrought or oversold issues. For eg: it will be very hard to analyse any sales data with simple system and to predict future sales.

On the other hand, complex system generates better result with trade market trending and RSI. For eg: it will be easier to analyse any sales data with these and to predict the future values.

Reductionism is the concept to break down a dataset/database/model in smaller, simplier forms to make it legible for further analysis. This is hugely used in econometrics and data analytics so as to predict for future.

Overdetermination is the practice of identifying more than one cause of an issue unnecessarily. For eg: if the dependent variable can be explained completely by one independent variable then keeping other explanatory independent variables in the model leads to overdetermination. This may lead to wrong prediction.

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