Methodological Issues and Models in 'History Friendly' Simulations
Simulation techniques have proliferated a lot in the last years. In economics the industrial dynamics approach makes use of simulation techniques to understand the complexity of the industrial process of continuous change. Among these models, a new branch of studies called “History-friendly” models aims at establishing a close link between formal theory, developing stand-alone theoretical simulation models, and empirical evidence, as it stems from a rigorous study of the economic environment under exam. The paper aims to give a methodological contribution to the “History-friendly” methodology. We discuss the flexibility of simulation techniques in representing complex environments. We analyse the relationship between empirical evidence and the implementation of the simulation model. We study “History-friendly” analyses and counterfactuals. A contribution to define the role of “History-friendly” models in the debate about empirical validation of simulations is given. Finally, some examples of “History-friendly” models are examined.
|Date of creation:||Jan 2009|
|Date of revision:||Jan 2009|
|Contact details of provider:|| Postal: |
Web page: http://www.kites.unibocconi.it/
|Order Information:|| Postal: E G E A - via R. Sarfatti, 25 - 20136 Milano -Italy|
When requesting a correction, please mention this item's handle: RePEc:cri:cespri:kites14_wp. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Valerio Sterzi)
If references are entirely missing, you can add them using this form.