Validation and Functional Complexity
9 Pages Posted: 23 Oct 2013
Date Written: October 16, 2013
This paper provides a framework for discussing the validity of computer simulation models of market phenomena. It defines functional complexity and derives measures of this for a well known agent-based simulation model and suggests methods to overcome the obstacle of complexity in validating such models.
Keywords: validation of simulation models, agent-based simulations, functional complexity
JEL Classification: C630, C520
Suggested Citation: Suggested Citation