Microsimulation
Microsimulation is a computational method that simulates policy effects by operating directly on a population of individual micro-units — households, firms, patients — and applying rules to each unit according to its own demographic, economic, and behavioural characteristics. Developed conceptually by Guy Orcutt in 1957, it has become the standard tool for evaluating tax reform, pension systems, and health policy before implementation.
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- O'Donoghue, C. (Ed.) (2014). Handbook of Microsimulation Modelling. Emerald. · DOI 10.1108/s0573-855520140000293026
- Li, J. & O'Donoghue, C. (2013). A Survey of Dynamic Microsimulation Models: Uses, Model Structure and Methodology. International Journal of Microsimulation, 6(2), 3–55. · URL
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