This paper develops a systematic approach to quantifying the effect of judgmental biases on aggregate risk measures. Starting with the standard risk management process, we derive the areas that require expert judgment as input in order to aggregate risk into risk measures such as Earnings at...

This paper discusses how stylized facts derived from bibliometric studies can be used to build social simulation models of science. Based on a list of six stylized facts of science it illustrates how they can be brought into play to consolidate and direct research. Moreover, it discusses...

We investigate the impact of choosing between four data sources on the relative performance measurement of scholars’ research output. Our results show that rankings can differ considerably and that the observed correlations are often even lower than those reported in previous studies. We show...

In the wake of the financial crisis of 2008/09, finance research has been criticized for an ineffective allocation of research efforts and a narrowing research focus. We address this discussion via a quantitative analysis of 4,064 articles published in the top four finance journals between 1988...

This paper identifies possible pitfalls of simulation modeling and suggests ways to prevent them. First, we specify five typical pitfalls that are associated with the process of applying simulation models and characterize the \"logic of failure\" (Dörner 1996) behind the pitfalls. Then, we...

The application of computer simulation as a research method raises two important questions: (1) Does simulation really offer added value over established methods? (2) How can the danger of arbitrariness caused by the extended modelling possibilities be minimised? We present the concept of...

Learning Classifier Systems (LCS) have gained popularity in the realm of social science simulation. However, when it comes to actually constructing a LCS for a particular modelling purpose, it seems that every researcher must currently "reinvent the wheel". Taking this situation as a starting...

Social simulation is often described as a multidisciplinary and fast-moving field. This can make it difficult to obtain an overview of the field both for contributing researchers and for outsiders who are interested in social simulation. The Journal for Artificial Societies and Social Simulation...