Our work has been concerned with the numerical simulation of dynamic economies with heterogeneous agents and economic … existence and computation of Markovian equilibria, as well as convergence and accuracy properties. We offer new insights into … numerical simulation …

realistic techniques using simulation approach for reliability analysis of systems. This paper proposes a hybrid approach called … as Markov system dynamics (MSD) approach which combines the Markov approach with system dynamics simulation approach for … the simulation when compared with that obtained by traditional Markov analysis clearly validate the MSD approach as an …