Validating Simulation Models
نویسندگان
چکیده
This paper provides a framework for discussing the empirical validation of computer simulation models of market phenomena. It considers first a simulation model of a market of competing coffee brands to ask some questions about the purposes and practices of simulation modeling. It defines functional complexity and derives measures of this for Schelling’s Segregation model. It refers to the Energy Modeling Forum’s model benchmarking exercises as an exemplar for simulators. It discusses how simulators might satisfy U.S. courts of their models’ validity. Acknowledgments: I thank Yaneer Bar-Yam, Ian Wilkinson, Shayne Gary, Peter McBurney, Hill Huntington, and others for their assistance. JEL codes: C63, C15 Ke ywords: simulation; validation; agent-based models; antitrust
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