Modeling individuals' behavior: Evaluation of a policymaker's tool
AbstractWith a continuous decline in the cost of manipulating data and a continuous increase in the richness of data banks, policymakers have increasing opportunities to build and apply so-called microsimulation models-models that attempt to simulate the behavior of the individuals in a large population under a specified program. The efforts of the Department of Labor to use a model in evaluating proposed changes in the unemployment insurance system point up both the power and the weaknesses of such models. Any user who applies these models without attempting to understand which of their strengths and weaknesses are most important for analyzing the problem at hand is asking for trouble. Easy to use or not, these models are not user-friendly.
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Bibliographic InfoArticle provided by John Wiley & Sons, Ltd. in its journal Journal of Policy Analysis and Management.
Volume (Year): 3 (1984)
Issue (Month): 2 ()
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Other versions of this item:
- Alan L. Gustman, 1984. "Modeling Individuals' Behavior: Evaluation of a Policymaker's Tool," NBER Working Papers 1223, National Bureau of Economic Research, Inc.
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- Gustman, Alan L & Steinmeier, Thomas L, 1986.
"A Disaggregated, Structural Analysis of Retirement by Race, Difficulty of Work and Health,"
The Review of Economics and Statistics,
MIT Press, vol. 68(3), pages 509-13, August.
- Alan L. Gustman & Thomas L. Steinmeier, 1985. "A Disaggregated, Structural Analysis of Retirement by Race, Difficulty of Work and Health," NBER Working Papers 1585, National Bureau of Economic Research, Inc.
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