Editing Exogeny (section)

== Economics ==
In an [[economics|economic]] [[model (economics)|model]], an [[Exogenous change|'''exogenous''' change]] is one that comes [[exogenous and endogenous variables|from outside the model]] and is unexplained by the model. Such changes of an economic model from outside factors can include the influence of technology, in which this had previously been noted as an exogenous factor, but has rather been noted as a factor that can depict economic forces as a whole.<ref>{{Cite journal|last=Lamberton|first=D. McL.|date=June 1984|title=Exogenous Factors in Economic Theory|url=https://www.tandfonline.com/doi/abs/10.1080/08109028408628957|journal=Critical Studies in Innovation|volume=2|issue=1 |pages=128–133|doi=10.1080/08109028408628957|via=Prometheus|url-access=subscription}}</ref> In [[economic sociology]], Project IDEA (Interdisciplinary Dimensions of Economic Analysis) gave notion to understanding the exogenous factors that play a role within [[economic theory]]. Developed from the [[International Social Science Council|International Social Science Council (ISSC)]] in the year of 1982, Project IDEA was founded to gather ideas from economists and sociologists in order to conceptualize what economic sociology incorporates, as they have sought to understand why these two fields have been estranged from each other.<ref>{{Cite journal |last=Swedberg |first=Richard |date=1985 |title=Economic sociology and exogenous factors |url=https://doi.org/10.1177%2F053901885024004012 |journal=[[Social Science Information]] |volume=24, 4 |issue=4 |pages=905–920 |doi=10.1177/053901885024004012 |via=SAGE journals |s2cid=144578414|url-access=subscription }}</ref> Such exogenous factors in economic theory include laws placed in economic systems by governments, ranks of [[social class]]es in populations, and preferences based on social factors of an individual.<ref>{{Cite journal|last=Hartley|first=Keith|date=1985|title=Exogenous factors in economic theory: neo-classical economics|url=https://doi.org/10.1177%2F053901885024003003|journal=Social Science Information|volume=24, 3|issue=3|pages=457–483|doi=10.1177/053901885024003003|s2cid=144892894|via=SAGE journals|url-access=subscription}}</ref>

=== Exogenous factors in econometrics ===
In [[econometrics]], an [[endogeneity (econometrics)|endogenous]] [[random variable]] is [[correlation|correlated]] with the [[Errors and residuals|error term]] in the econometric model, while an exogenous variable is not.<ref>{{cite book |first=Jeffrey M. |last=Wooldridge |author-link=Jeffrey Wooldridge |title=Introductory Econometrics: A Modern Approach |location=Mason |publisher=South-Western |edition=Fourth |year=2009 |isbn=978-0-324-66054-8 |page=49 |url=https://books.google.com/books?id=64vt5TDBNLwC&pg=PA49 }}</ref> However, exogenous variables aid in the explanation of endogenous variable variances. In the preset group, it is typical to include historical values of endogenous variables. Exogenous variables are independent of the model's [[disturbance term]], since they are preset. They meet the same conditions as [[explanatory variables]] do in a traditional [[regression model]].