A Practical Guide to Inference in Simulation Models
AbstractThis paper introduces a categorization of simulation models. It provides an explicit overview of the steps that lead to a simulation model. We highlight the advantages and disadvantages of various simulation approaches by examining how they advocate different ways of constructing simulation models. To this end, it discusses a number of relevant methodological issues, such as how realistic simulation models are obtained and which kinds of inference can be used in a simulation approach. Finally, the paper presents a practical guide on how simulation should and can be conducted.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Max Planck Institute of Economics, Evolutionary Economics Group in its series Papers on Economics and Evolution with number 2006-02.
Length: 33 pages
Date of creation: Mar 2006
Date of revision:
Find related papers by JEL classification:
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-03-25 (All new papers)
- NEP-CBE-2006-03-25 (Cognitive & Behavioural Economics)
- NEP-CMP-2006-03-25 (Computational Economics)
- NEP-ECM-2006-03-25 (Econometrics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sidney G. Winter & Yuri M. Kaniovski & Giovanni Dosi, 2003.
"A Baseline Model of Industry Evolution,"
LEM Papers Series
2003/12, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- Werker, C. & Brenner, T., 2004.
"Empirical calibration of simulation models,"
04.13, Eindhoven Center for Innovation Studies.
- Claudia Werker & Thomas Brenner, 2004. "Empirical Calibration of Simulation Models," Papers on Economics and Evolution 2004-10, Max Planck Institute of Economics, Evolutionary Economics Group.
- Werker, C. & Brenner, T., 2004. "Empirical calibration of simulation models," Eindhoven Center for Innovation Studies (ECIS) working paper series 04.13, Eindhoven Center for Innovation Studies (ECIS).
- Thomas Brenner & Claudia Werker, 2004. "Empirical Calibration of Simulation Models," Computing in Economics and Finance 2004 89, Society for Computational Economics.
- Giorgio Fagiolo & Giovanni Dosi, 2002.
"Exploitation, Exploration and Innovation in a Model of Endogenous Growth with Locally interacting Agents,"
LEM Papers Series
2002/25, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- Fagiolo, Giorgio & Dosi, Giovanni, 2003. "Exploitation, exploration and innovation in a model of endogenous growth with locally interacting agents," Structural Change and Economic Dynamics, Elsevier, vol. 14(3), pages 237-273, September.
- Eliasson, Gunnar & Johansson, Dan & Taymaz, Erol, 2004.
"Simulating the New Economy,"
Ratio Working Papers
52, The Ratio Institute.
- Atkinson, Tony, et al, 2002. "Microsimulation of Social Policy in the European Union: Case Study of a European Minimum Pension," Economica, London School of Economics and Political Science, vol. 69(274), pages 229-43, May.
- Creedy, John & Duncan, Alan, 2002. " Behavioural Microsimulation with Labour Supply Responses," Journal of Economic Surveys, Wiley Blackwell, vol. 16(1), pages 1-39, February.
- Johann Peter Murmann & Thomas Brenner, 2003. "The Use of Simulations in Developing Robust Knowledge about Causal Processes: Methodological Considerations and an Application to Industrial Evolution," Computing in Economics and Finance 2003 66, Society for Computational Economics.
- Malerba, Franco, et al, 1999. "'History-Friendly' Models of Industry Evolution: The Computer Industry," Industrial and Corporate Change, Oxford University Press, vol. 8(1), pages 3-40, March.
- Prof John Foster, 2007. "A micro-meso-macro perspective on the methodology of evolutionary economics: integrating history, simulation and econometrics," Discussion Papers Series 343, School of Economics, University of Queensland, Australia.
- Robert E. Marks, 2013. "Validation and Functional Complexity," Discussion Papers 2013-30, School of Economics, The University of New South Wales.
- Robert Marks, 2007. "Validating Simulation Models: A General Framework and Four Applied Examples," Computational Economics, Society for Computational Economics, vol. 30(3), pages 265-290, October.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Karin Serfling).
If references are entirely missing, you can add them using this form.