Accurate estimation of performance measures for system dynamics models

P. M. Barton*, A. M. Tobias

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

4 Citations (Scopus)

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.

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

ASJC Scopus subject areas

  • Management of Technology and Innovation
  • Strategy and Management
  • Social Sciences (miscellaneous)

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