Additional Topics in Modeling

This chapter aims to introduce the student to the concept of the Monte-Carlo simulation method and randomness in modelling. It explores the importance of multiple simulation runs, similar to multiple samples, to explain typical or average behaviour. The chapter explains the practice of developing flowcharts and pseudocode that explain the steps of a simulation. It also introduces a variety of applications that can benefit from simulation modelling. The chapter discusses studies related to comparing equation-based modeling and agent-based modelling. It also introduces the basic concepts and applications of game theory, including payoff matrices and pure and mixed strategy equilibria. Game theory can be particularly interesting when it comes to analyzing conflict resolution. The chapter also discusses the concepts of Delaunay Triangulation and Voronoi Diagrams. Modeling is particularly useful in fields where collecting data is difficult or where ethically initial modeling should proceed physical implementation.