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Modeling and simulation of economic processes

Author

Listed:
  • Bogdan Alexandru Brumar

Abstract

In general, any activity requires a longer action often characterized by a degree of uncertainty, insecurity, in terms of size of the objective pursued. Because of the complexity of real economic systems, the stochastic dependencies between different variables and parameters considered, not all systems can be adequately represented by a model that can be solved by analytical methods and covering all issues for management decision analysis-economic horizon real. Often in such cases, it is considered that the simulation technique is the only alternative available. Using simulation techniques to study real-world systems often requires a laborious work. Making a simulation experiment is a process that takes place in several stages.

Suggested Citation

  • Bogdan Alexandru Brumar, 2010. "Modeling and simulation of economic processes," Studies and Scientific Researches. Economics Edition, "Vasile Alecsandri" University of Bacau, Faculty of Economic Sciences, issue 15.
    • Handle: RePEc:bac:fsecub:10-15-52
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    More about this item

    Keywords

    integration of economic process; ontology; transition system; optimization methods.;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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