A plea for (good) simulations: nudging economics toward an experimental science
J Reiss - Simulation & gaming, 2011 - journals.sagepub.com
Simulation & gaming, 2011•journals.sagepub.com
In this article, the author argues that simulation is an undervalued technique to draw
conclusions about empirical phenomena in economics. If the aim is to learn about the
behavior of socioeconomic systems of interest, simulations have a variety of advantages
relative to alternatives such as mathematical (pen and paper) modeling and laboratory
experimentation. Therefore, the author has a good prima facie reason to exploit this method
more fully. The author proceed by demonstrating that frequently heard arguments against …
conclusions about empirical phenomena in economics. If the aim is to learn about the
behavior of socioeconomic systems of interest, simulations have a variety of advantages
relative to alternatives such as mathematical (pen and paper) modeling and laboratory
experimentation. Therefore, the author has a good prima facie reason to exploit this method
more fully. The author proceed by demonstrating that frequently heard arguments against …
In this article, the author argues that simulation is an undervalued technique to draw conclusions about empirical phenomena in economics. If the aim is to learn about the behavior of socioeconomic systems of interest, simulations have a variety of advantages relative to alternatives such as mathematical (pen and paper) modeling and laboratory experimentation. Therefore, the author has a good prima facie reason to exploit this method more fully. The author proceed by demonstrating that frequently heard arguments against simulations are wrong, and finally the author discusses a number of more specific empirical phenomena, criticisms of one type of simulation methodology used in economics.
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