The Substitution of Analytic for Simulation Algorithms: A Comment

Wilfred Candler, Wayne Cartwright and J. B. Penn

American Journal of Agricultural Economics, 1973, vol. 55, issue 2, 235-239

Abstract: An example problem that was initially analyzed by simulation and subsequently solved analytically is presented. It is argued that simulation algorithms are not necessarily preferable to analytic procedures even when problems contain apparently intractable features. Analytic solutions to simplified problems might prove useful even when a simulation algorithm is employed.

Date: 1973
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:55:y:1973:i:2:p:235-239.

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