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A plea for (good) simulations: nudging economics toward an experimental science

Reiss, Julian (2011) A plea for (good) simulations: nudging economics toward an experimental science. Simulation and Gaming, 42 (2). pp. 243-264. ISSN 1046-8781

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Identification Number: 10.1177/1046878110393941

Abstract

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.

Item Type: Article
Official URL: http://sag.sagepub.com/
Additional Information: © 2011 SAGE publications
Divisions: CPNSS
Subjects: H Social Sciences > HB Economic Theory
Sets: Research centres and groups > Centre for Philosophy of Natural and Social Science (CPNSS)
Date Deposited: 31 May 2011 13:54
Last Modified: 20 Jan 2020 04:21
URI: http://eprints.lse.ac.uk/id/eprint/36439

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