Accurate estimation of performance measures for system dynamics models

Research output: Contribution to journalArticle

Authors

Colleges, School and Institutes

Abstract

Traditional system dynamics models are subject to error in the estimation of performance measures because of the method of calculation over discrete time intervals. It is shown that such errors may be significantly reduced by dividing the computation between two runs with different solution intervals and applying Richardson's extrapolation method. Examples are given for a variety of different published models and performance measures.

Details

Original languageEnglish
Pages (from-to)85-94
Number of pages10
JournalSystem Dynamics Review
Volume14
Issue number1
Publication statusPublished - Mar 1998