An actor-model based bottom-up simulation - An experiment on Indian demonetisation initiative

BARAT, Souvik, KULKARNI, Vinay, CLARK, Tony and BARN, Balbir (2017). An actor-model based bottom-up simulation - An experiment on Indian demonetisation initiative. In: Proceedings of the 2017 Winter Simulation Conference (WSC). Proceedings of the ... Winter Simulation Conference. Winter Simulation Conference (2017). IEEE, 860-871.

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The dominance of cash-based transactions and relentless growth of a shadow economy triggered a fiscal intervention by the Indian government wherein 86% of the total cash in circulation was pulled out in a sudden announcement on November 8, 2016. This disruptive initiative resulted into prolonged cash shortages, financial inconvenience, and crisis situation to cross-section of population of the country. Overall, the initiative has faced a lot of criticism as being poorly thought through and inadequately planned. We claim that these emerging adverse conditions could have been anticipated well in advance with appropriate experimental setup. We further claim that the efficacy of possible courses of actions for managing critical situations, and probable consequences of the courses of action could have been estimated in a laboratory setting. This paper justifies our claims with an experimental setup relying on what-if analysis using an actor-based bottom up simulation approach.

Item Type: Book Section
Additional Information: Paper presented at the 2017 Winter Simulation Conference, WSC 2017, Las Vegas, NV, USA, December 3-6, 2017.
Research Institute, Centre or Group - Does NOT include content added after October 2018: Cultural Communication and Computing Research Institute > Communication and Computing Research Centre
Identification Number:
Page Range: 860-871
Depositing User: Tony Clark
Date Deposited: 18 Jan 2018 12:24
Last Modified: 18 Mar 2021 15:33

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