Accession Number:

AD0773607

Title:

On System Dynamics.

Descriptive Note:

Technical summary rept.,

Corporate Author:

WISCONSIN UNIV MADISON MATHEMATICS RESEARCH CENTER

Personal Author(s):

Report Date:

1973-12-01

Pagination or Media Count:

35.0

Abstract:

THEOREM, Production functions, Growth modelsThe paper presents an exegesis of Forresters system dynamics using conventional mathematical concepts and briefly reviews its advantages and disadvantages. First, Solows well-known economic growth model is translated into Forresters language. Next, the mathematical structure of a general class of Forrester type models is spelled out. Three constructive suggestions are made for augmenting the methodology. These suggestions involve improved numerical integration methods, numerical control theory techniques and a parameter saving, flexible class of smooth functions for representing nonlinear relationships. Then the best known of the Forrester-type models, World 2, is briefly discussed from the point of view developed here. Author

Subject Categories:

  • Economics and Cost Analysis
  • Operations Research

Distribution Statement:

APPROVED FOR PUBLIC RELEASE