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Validating Simulation Models: A General Framework and Four Applied Examples

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  • Robert Marks

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  • Robert Marks, 2007. "Validating Simulation Models: A General Framework and Four Applied Examples," Computational Economics, Springer;Society for Computational Economics, vol. 30(3), pages 265-290, October.
  • Handle: RePEc:kap:compec:v:30:y:2007:i:3:p:265-290
    DOI: 10.1007/s10614-007-9101-7
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    References listed on IDEAS

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    1. Matteo Richiardi & Roberto Leombruni & Nicole J. Saam & Michele Sonnessa, 2006. "A Common Protocol for Agent-Based Social Simulation," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 9(1), pages 1-15.
    2. Leombruni, Roberto & Richiardi, Matteo, 2005. "Why are economists sceptical about agent-based simulations?," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 355(1), pages 103-109.
    3. David F. Midgley & Robert E. Marks & Lee C. Cooper, 1997. "Breeding Competitive Strategies," Management Science, INFORMS, vol. 43(3), pages 257-275, March.
    4. Judd, Kenneth L., 2006. "Computationally Intensive Analyses in Economics," Handbook of Computational Economics,in: Leigh Tesfatsion & Kenneth L. Judd (ed.), Handbook of Computational Economics, edition 1, volume 2, chapter 17, pages 881-893 Elsevier.
    5. Marks, Robert, 2006. "Market Design Using Agent-Based Models," Handbook of Computational Economics,in: Leigh Tesfatsion & Kenneth L. Judd (ed.), Handbook of Computational Economics, edition 1, volume 2, chapter 27, pages 1339-1380 Elsevier.
    6. Midgley, David & Marks, Robert & Kunchamwar, Dinesh, 2007. "Building and assurance of agent-based models: An example and challenge to the field," Journal of Business Research, Elsevier, vol. 60(8), pages 884-893, August.
    7. Giorgio Fagiolo & Paul Windrum & Alessio Moneta, 2006. "Empirical Validation of Agent Based Models: A Critical Survey," LEM Papers Series 2006/14, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    8. Steven N. Durlauf, 2005. "Complexity and Empirical Economics," Economic Journal, Royal Economic Society, vol. 115(504), pages 225-243, June.
    9. J. E. Stiglitz, 1999. "Introduction," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 28(3), pages 249-254, November.
    10. Marks, R E, 1992. "Breeding Hybrid Strategies: Optimal Behaviour for Oligopolists," Journal of Evolutionary Economics, Springer, vol. 2(1), pages 17-38, March.
    11. Schelling, Thomas C, 1969. "Models of Segregation," American Economic Review, American Economic Association, vol. 59(2), pages 488-493, May.
    12. Thomas Brenner & Claudia Werker, 2006. "A Practical Guide to Inference in Simulation Models," Papers on Economics and Evolution 2006-02, Philipps University Marburg, Department of Geography.
    13. Luke Froeb & Daniel Hosken & Janis Pappalardo, 2004. "Economics Research at the FTC: Information, Retrospectives, and Retailing," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 25(4), pages 353-374, October.
    14. Schelling, Thomas C., 2006. "Some Fun, Thirty-Five Years Ago," Handbook of Computational Economics,in: Leigh Tesfatsion & Kenneth L. Judd (ed.), Handbook of Computational Economics, edition 1, volume 2, chapter 37, pages 1639-1644 Elsevier.
    15. Robert Axtell & Robert Axelrod & Joshua M. Epstein & Michael D. Cohen, 1995. "Aligning Simulation Models: A Case Study and Results," Working Papers 95-07-065, Santa Fe Institute.
    16. 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.
    17. Arthur, W. Brian, 2006. "Out-of-Equilibrium Economics and Agent-Based Modeling," Handbook of Computational Economics,in: Leigh Tesfatsion & Kenneth L. Judd (ed.), Handbook of Computational Economics, edition 1, volume 2, chapter 32, pages 1551-1564 Elsevier.
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    1. repec:eee:aumajo:v:22:y:2014:i:1:p:4-14 is not listed on IDEAS
    2. repec:eee:aumajo:v:22:y:2014:i:1:p:60-68 is not listed on IDEAS
    3. Ian McCarthy, 2008. "Simulating Sequential Search Models with Genetic Algorithms: Analysis of Price Ceilings, Taxes, Advertising and Welfare," Caepr Working Papers 2008-010, Center for Applied Economics and Policy Research, Economics Department, Indiana University Bloomington.
    4. repec:spr:comaot:v:24:y:2018:i:1:d:10.1007_s10588-017-9249-1 is not listed on IDEAS
    5. Giorgio Fagiolo & Alessio Moneta & Paul Windrum, 2007. "A Critical Guide to Empirical Validation of Agent-Based Models in Economics: Methodologies, Procedures, and Open Problems," Computational Economics, Springer;Society for Computational Economics, vol. 30(3), pages 195-226, October.
    6. repec:eee:ecosta:v:5:y:2018:i:c:p:83-106 is not listed on IDEAS

    More about this item

    Keywords

    Simulation; Validation; Agent-based computational economics; Antitrust; Functional complexity; Schelling; Sufficiency; Daubert criteria; C63; C15;

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General

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