The Lisbon strategy for growth and jobs seeks to use knowledge and innovation in thecontext of the European Research Area (ERA). To build the ERA the European Union(EU) implements – amongst others - regional innovation policy. Ample scientificpublications have investigated how innovation...

In economics simulation models are used quite a lot to carry out mathematical experiments.However, the specification of the parameter set with which to run these simulations is, ingeneral, quite an adventure into the unknown. Criticism is easily found with the procedure, asit is difficult to...

When advising policy we face the fundamental problem that economic processes are connected with uncertainty and thus policy can err. In this paper we show how the use of simulation models can reduce policy errors. We suggest that policy is best based on so-called abductive simulation models,...

Scholars’ balancing act between research and application leads to trade-offs between commercial and research output. Yet what some scholars may consider as poles apart might lead to super-additive outcomes for others. Based on a survey carried out at three leading European universities of...

This paper introduces a categorization of simulation models. It provides an explicit overview of the steps that lead to a simulation model. We highlight the advantages and disadvantages of various simulation approaches by examining how they advocate different ways of constructing simulation...

The Lisbon strategy for growth and jobs seeks to use knowledge and innovation in the context of the European Research Area (ERA). To build the ERA the European Union (EU) implements - amongst others - regional innovation policy. Ample scientific publications have investigated how innovation...

This paper discusses how the results of simulation models can be made more reliable and the method of simulating therefore more widely applicable. We suggested to calibrate simulation models empirically and developed a methodology based on Critical Realism in order to so. We suggested combining...