Abstract
To simulate is both to develop a process model which can be operated and to actually run the model. A running model is a simulation and a model run provides a specific solution of the model.
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Orcutt, G.H. (2018). Simulation of Microanalytic Systems. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1912
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1912
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