Chapter 22 Simulation Modeling as a Policy Tool
This chapter describes, justifies, presents the pros and cons of and illustrates the use of simulation modeling as a handy, cost-effective and agile tool for policymakers. Simulation modeling is flexible enough to accommodate different levels of detail, precision and time frameworks. It also serves...
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| Main Author: | |
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| Format: | Electronic Book Chapter |
| Language: | English |
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Taylor & Francis
2023
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| Subjects: | |
| Online Access: | OAPEN Library: download the publication OAPEN Library: description of the publication |
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| Summary: | This chapter describes, justifies, presents the pros and cons of and illustrates the use of simulation modeling as a handy, cost-effective and agile tool for policymakers. Simulation modeling is flexible enough to accommodate different levels of detail, precision and time frameworks. It also serves the purpose of a concrete communication platform that facilitates scenario analysis, what-if alternatives and forward looking. We specifically define agent-based modeling within the larger simulation domain, provide a brief overview of other computation modeling methodologies and discuss the concepts of multiple models, verification, validation and calibration. The conceptual framework section closes with a discussion of advantages and disadvantages of using simulation modeling for policy at various stages of implementation. Finally, we present a panorama of actual applications of simulation modeling in policy, with an emphasis on economic analysis. |
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| Physical Description: | 1 electronic resource (12 p.) |
| ISBN: | 9781003163954-27 9780367757748 9780367757809 |
| Access: | Open Access |