SOCIOECONOMIC MODELS FOR DEVELOPMENT PLANNING, I: VALIDATIOIN METHODS
AgEcon Search (University of Minnesota, USA)Published 1 January 1981Open access
Wilbur R. Maki, Maki, Wilbur R.
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Abstract
The purpose of this paper is to assess alternate strategies of socioeconomic model validation. An extensive literature review provided the delineation of validation methods and, also, brief summaries of each type of validation. Finally, personal experience in the implementation and use of regional economic impact forecasting and simulation systems was used in outlining the structure and the steps of play of a simulation/gaming model for testing the validation methods listed earlier.
Keywords
Economics, Econometrics and FinanceEnvironmental Science