Calibration of Models in Experiments
Marcel J. Boumans
University of Amsterdam; Tinbergen Institute; Erasmus University Rotterdam (EUR) - Erasmus Institute for Philosophy and Economics (EIPE)
MODEL-BASED REASONING: SCIENCE, TECHNOLOGY, VALUES, pp. 75-93, L. Magnani and N.J. Nersessian, eds., Kluwer Academic/Plenum Publisher, 2002
The assessment of models in an experiment depends on their material nature and their function in the experiment. Models that are used to make the phenomenon under investigation visible - sensors - are assessed by calibration. However, calibration strategies assume material intervention. The experiment discssed in this paper is an experiment in economics to measure the influence of technology shocks on business cycles. It uses immaterial, mathematical instruments. It appears that calibration did not work for these kinds of models, it did not provide reliable evidence for the facts of the business cycle.
Keywords: calibration, experiment, reliability, materiality, instrument
JEL Classification: B41Accepted Paper Series
Date posted: July 18, 2009
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