Economic and financial simulation for small business: A discussion of the small business economic, risk, and tax simulator
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A simulation model designed to perform economic, risk, and tax analysis for small businesses organized as sole proprietorships is presented. The SERTS model can be run deterministically or stochastically and has the ability to monitor numerous performance variables over the entire planning horizon. The model can be used by managers to rank alternative management strategies for risk efficiency. Risk efficiency is identified with generalized stochastic dominance. Alternatively it can perform impact analysis on government programs and macroeconomic conditions for use by the public policy process.
author list (cited authors)
Cochran, M. J., Richardson, J. W., & Nixon, C.
complete list of authors
Cochran, Mark J||Richardson, James W||Nixon, Clair