Validation and Functional Complexity

Robert Marks

No 2013-30, Discussion Papers from School of Economics, The University of New South Wales

Abstract: This paper provides a framework for discussing the validity of computer simulation models of market phenomena. It defines functional complexity and derives measures of this for a well known agent-based simulation model and suggests methods to overcome the obstacle of complexity in validating such models.

Keywords: validation of simulation models; agent-based simulations; functional complexity (search for similar items in EconPapers)
JEL-codes: C52 C63 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2013-10
New Economics Papers: this item is included in nep-cmp and nep-ore
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