Overview

This work explains the use of optimization of system dynamics models. System dynamics is a management science methodology which deals with the ability to control managed systems as time passes and external shocks occur. For example, what should a firm's investment strategy be to cope with changing markets? The method is based on the building of diagrams of the influences at work in the system. The diagrams are often useful in their own right for qualitative analysis of problems and the development of insights into them. They also serve as the basis from which simulation models can be quickly constructed. These models can be used for policy design and strategy testing, but they are also the foundation on which sophisticated optimization approaches can be used to design strategies which are robust against a range of eventualities. The diagrams and models are very transparent and support client participation in the analysis.

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