Simulation Experiments and Significance Tests

Klaus G. Troitzsch ()
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Klaus G. Troitzsch: Universität Koblenz-Landau

A chapter in Artificial Economics and Self Organization, 2014, pp 17-28 from Springer

Abstract: Abstract The paper uses two formal models of simple processes in artificial worlds—one with and one without an analytical solution—to discuss the role of statistical analysis and significance tests of results from multiple simulation runs. Moreover the paper argues that it is not the sheer existence of an effect of input parameters on simulation results but the effect size which is the interesting outcome of a simulation and that significance tests of differences in means are much less important than the distribution of output variables which are more often than not non-normal distributions.

Keywords: Unemployment Rate; Minimum Wage; Random Number Generator; Approximate Analytical Solution; Work Agent (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-319-00912-4_2

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DOI: 10.1007/978-3-319-00912-4_2

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