However the major drawback with emulators is that these studies can be performed only towards the end of the project life cycle when a physical ... the modification in architecture or hardware, which ...

Bodie, Zvi, Robert C. Merton, and William Samuelson. "Labor Supply Flexibility and Portfolio Choice in a Life-Cycle Model." Journal of Economic Dynamics & Control 16, nos. 3-4 (July–October 1992): 427 ...