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Published in:
1990 | OriginalPaper | Chapter
Simulation Models
Author : Irma Adelman
Published in: Econometrics
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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To clarify the concept of simulation requires placing simulation models in the context of available modelling approaches. One can distinguish models by their structure, size, complexity, purpose, solution technique and probabilistic specification. Generally, the purpose for which a model is specified, the state of knowledge in the area, and the relative importance of indirect effects should guide model specification (Robinson, 1987).