System dynamics: Difference between revisions

Revision as of 15:48, 6 June 2025

Latest revision as of 03:40, 11 August 2025

Line 123:

System dynamics has been used to investigate resource dependencies, and resulting problems, in product development.<ref name="Repenning:2001kx">{{cite journal |last=Repenning |first=Nelson P. |year=2001 |title= Understanding fire fighting in new product development |journal= The Journal of Product Innovation Management |volume= 18 |issue=5|pages= 285–300|doi= 10.1016/S0737-6782(01)00099-6|url= https://dspace.mit.edu/bitstream/1721.1/3961/2/Tilting_v40-web.pdf |hdl=1721.1/3961 |hdl-access= free }}</ref><ref name="Repenning:1999ng">Nelson P. Repenning (1999). ''Resource dependence in product development improvement efforts'', [[MIT Sloan School of Management]] Department of Operations Management/System Dynamics Group, Dec 1999.</ref>

A system dynamics approach to [[macroeconomics]], known as ''[[Minsky (economic simulator)|Minsky]]'', has been developed by the economist [[Steve Keen]].<ref name="SForge">&nbsp;[httphttps://sourceforge.net/blog/january-2014-potm/&nbsp;SourceForge]&nbsp;Minsky&nbsp;-&nbsp;Project of the month January 2014. Interview with Minsky development team. Accessed January 2014</ref> This has been used to successfully model world economic behaviour from the apparent stability of the [[Great Moderation]] to the [[2008 financial crisis]].

===Example: Growth and decline of companies===