Simulation Experiments and Significance Tests

  • Klaus G. TroitzschEmail author
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 669)


The paper uses two formal models of simple processes in artificial worlds—one with and one without an analytical solution—to discuss the role of statistical analysis and significance tests of results from multiple simulation runs. Moreover the paper argues that it is not the sheer existence of an effect of input parameters on simulation results but the effect size which is the interesting outcome of a simulation and that significance tests of differences in means are much less important than the distribution of output variables which are more often than not non-normal distributions.


Unemployment Rate Minimum Wage Random Number Generator Approximate Analytical Solution Work Agent 
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Copyright information

© Springer International Publishing Switzerland 2014

Authors and Affiliations

  1. 1.Institut für Wirtschafts- und VerwaltungsinformatikUniversität Koblenz-LandauKoblenzGermany

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