| Περίληψη: | 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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