Classes of Models

According to the criteria ‘ TIME ’, two classes of models:

Continuous time models , time is represented by the real

numbers

Discrete time models, time is represented by a set isomorphic

to the integers

Classes of models

According to the criteria ‘ trajectories of state variables ’,

two classes of models:

Continuous change models, state changes occur continuously

over time,

Discrete change models, state changes occur in discrete

jumps

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