ACCURATE ESTIMATION OF PERFORMANCE-MEASURES FOR SYSTEM DYNAMICS MODELS

Authors
BARTON PM TOBIAS AM
Citation
Pm. Barton et Am. Tobias, ACCURATE ESTIMATION OF PERFORMANCE-MEASURES FOR SYSTEM DYNAMICS MODELS, System dynamics review, 14(1), 1998, pp. 85-94
Citations number
7
Categorie Soggetti
Management,"Social Sciences, Mathematical Methods
Journal title
System dynamics review → ACNP
ISSN journal
08837066
Volume
14
Issue
1
Year of publication
1998
Pages
85 - 94
Database
ISI
SICI code
0883-7066(1998)14:1<85:AEOPFS>2.0.ZU;2-P
Abstract
Traditional system dynamics models are subject to error in the estimat ion of performance measures because of the method of calculation over discrete time intervals. It is shown that such errors may be significa ntly reduced by dividing the computation between two runs with differe nt solution intervals and applying Richardson's extrapolation method. Examples are given for a variety of different published models and per formance measures, (C) 1998 John Wiley & Sons, Ltd.