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Simulations, theory, and experiments. Notes from an Historical Perspective


  • Marco Novarese

    (Centre for Cognitive Economics - Università del Piemonte Orientale)


This paper aims at presenting the methodological approach to simulations, proposed at the beginning of the sixties by a group of scholars of the Carnegie Mellon University. This approach can be defined cognitive and behavioural, because of the attention to real perception and decision-making and to the role assigned to learning processes. One of the main points of departure is constituted by the wish to relay on more realistic assumptions, as a condition for better an understanding and forecast of the reality. Simulations are seen as the most important, even if not unique, way to model the resulting complexity.

Suggested Citation

  • Marco Novarese, 2004. "Simulations, theory, and experiments. Notes from an Historical Perspective," Method and Hist of Econ Thought 0412001, EconWPA.
  • Handle: RePEc:wpa:wuwpmh:0412001
    Note: Type of Document - pdf; pages: 15. Paper presented at the I Workshop on Industry and Labor Dynamics. The Agent-based Computational Economics Approach, Torino, October 2003

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    References listed on IDEAS

    1. Link, Albert N, 1980. "Firm Size and Efficient Entrepreneurial Activity: A Reformulation of the Schumpeter Hypothesis," Journal of Political Economy, University of Chicago Press, vol. 88(4), pages 771-782, August.
    2. Rosen, Sherwin & Nadiri, M Ishaq, 1974. "A Disequilibrium Model of Demand for Factors of Production," American Economic Review, American Economic Association, vol. 64(2), pages 264-270, May.
    3. Eliasson, Gunnar, 1984. "Micro heterogeneity of firms and the stability of industrial growth," Journal of Economic Behavior & Organization, Elsevier, vol. 5(3-4), pages 249-274.
    4. Acs, Zoltan J & Audretsch, David B, 1987. "Innovation, Market Structure, and Firm Size," The Review of Economics and Statistics, MIT Press, vol. 69(4), pages 567-574, November.
    5. Schultz, Theodore W, 1975. "The Value of the Ability to Deal with Disequilibria," Journal of Economic Literature, American Economic Association, vol. 13(3), pages 827-846, September.
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    More about this item


    experiment; simulations; Herbert Simon;

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • C9 - Mathematical and Quantitative Methods - - Design of Experiments


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