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3.3) System Dynamics


  • System of difference and differential equations
  • Based on stocks, flows and feedback loops
  • Restricted to the macro level (top-down)
  • Target the phenomena (invisible whole)
  • Literature: World dynamics (Forester 1969, 1971, 1980; Meadows et al, 1974, 1992), Business dynamics (Sterman, 2000)