Despite a lot of attention gained by the Resource-Event-Agent (REA) framework among researchers in enterprise modeling, it still lacks comprehensive formal description. Most of the formalization approaches to REA use only UML or other graphical representation. This paper aims to define REA...

There are considerable difficulties in the way of the development of useful and reliable simulation models of social phenomena, including that any simulation necessarily includes many assumptions that are not directly supported by evidence. Despite these difficulties, many still hope to develop...