Validation and Functional Complexity

9 Pages Posted: 23 Oct 2013

See all articles by Robert E. Marks

Robert E. Marks

UNSW Australia Business School, School of Economics

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

Marks, Robert E., Validation and Functional Complexity (October 16, 2013). UNSW Australian School of Business Research Paper No. 2013-30, Available at SSRN: or

Robert E. Marks (Contact Author)

UNSW Australia Business School, School of Economics ( email )

High Street
Sydney, NSW 2052
+61 2 9931 9271 (Phone)


Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
PlumX Metrics