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Simulation modeling is increasingly integrated into research and policy analysis of complex sociotechnical systems in a variety of domains. Model-based analysis and policy design inform a range of applications in fields from economics to engineering to health care. This book offers a hands-on introduction to key analytical methods for dynamic modeling. Bringing together tools and methodologies from fields as diverse as computational statistics, econometrics, and operations research in a single text, the book can be used for graduate-level courses and as a reference for dynamic modelers who want to expand their methodological toolbox.The focus is on quantitative techniques for use by dynamic modelers during model construction and analysis, and the material presented is accessible to readers with a background in college-level calculus and statistics. Each chapter describes a key method, presenting an introduction that emphasizes the basic intuition behind each method, tutorial style examples, references to key literature, and exercises. The chapter authors are all experts in the tools and methods they present. The book covers estimation of model parameters using quantitative data; understanding the links between model structure and its behavior; and decision support and optimization. An online appendix offers computer code for applications, models, and solutions to exercises.ContributorsWenyi An, Edward G. Anderson Jr., Yaman Barlas, Nishesh Chalise, Robert Eberlein, Hamed Ghoddusi, Winfried Grassmann, Peter S. Hovmand, Mohammad S. Jalali, Nitin Joglekar, David Keith, Juxin Liu, Erling Moxnes, Rogelio Oliva, Nathaniel D. Osgood, Hazhir Rahmandad, Raymond Spiteri, John Sterman, Jeroen Struben, Burcu Tan, Karen Yee, Gonen Ycel.
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This thesis by Johan Persson investigates the efficient optimization of complex industrial products using simulation and surrogate models. It focuses on leveraging validated models for product optimization, exploring methods for handling conflicting objectives, integrating analyses from multiple models and disciplines, and employing surrogate models to optimize costly simulations. The research includes modifications to existing methods and proposes new ones, demonstrated through industrial applications like the design and optimization of industrial robots and aircraft systems. Intended for engineers, researchers, and professionals in industrial design and optimization, the thesis is a comprehensive study aimed at enhancing the efficiency of product development processes.
Surrogate-based optimization. --- Simulation methods. --- Surrogate-based optimization --- Simulation methods
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Many students want an introduction to finance. Those who are quantitatively-oriented learners can benefit in particular from an introduction that puts more emphasis on mathematics and graphical presentations than on verbal descriptions. By illustrating core finance facts and concepts through equations and graphical material, Finance: A Quantitative Introduction can help people studying business management, marketing, accounting, and other subjects. By using few lengthy verbal explanations and many illustrations, it can teach readers quickly and efficiently. Chapter-concluding questions (with
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Praise for the First Edition""…a nice, self-contained introduction to simulation and computational techniques in finance…""- Mathematical ReviewsSimulation Techniques in Financial Risk Management, Second Edition takes a unique approach to the field of simulations by focusing on techniques necessary in the fields of finance and risk management. Thoroughly updated, the new edition expands on several key topics in these areas and presents many of the recent innovations in simulations and risk management, such as advanced option pricing models beyond the Black-Scholes paradigm, interest ra
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Simulations are an integral part of medical education today. Many universities have simulation centers, so-called skills labs, where students and medical personal can practice diagnostics and procedures on life-like mannequins. Others offer simulation courses in the different sub-disciplines. In the pre-clinical phase, simulations are used to illustrate basic principles in physiology, anatomy, genetics, and biochemistry. For example, simulations can show how the metabolism of enzymes changes in the presence of inhibitors, illustrating drug actions. This book covers all areas of simulations in medicine, starting from the molecular level via tissues and organs to the whole body. At the beginning of each chapter, a biological phenomenon is described, such as cell communication, gene translation, or the action of anti-carcinogenic drugs on tumors. In the following, simulations that illustrate these phenomena are discussed in detail, with the focus on how to use and interpret these simulations. The book is complemented by topics such as serious games and distance medicine. The book is based on a course for medical students organized in the editor's department. Every year, around 300 international undergraduate medical students take the course.
Medicine --- Health Workforce --- Computer simulation. --- Simulation methods.
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Bridges --- Data processing. --- Simulation methods. --- Standards.
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Insightful modelling of dynamic systems for better business strategy The business environment is constantly changing and organisations need the ability to rehearse alternative futures. By mimicking the interlocking operations of firms and industries, modelling serves as a 'dry run' for testing ideas, anticipating consequences, avoiding strategic pitfalls and improving future performance. Strategic Modelling and Business Dynamics is an essential guide to credible models; helping you to understand modelling as a creative process for distilling and communicating those factors that drive business success and sustainability. Written by an internationally regarded authority, the book covers all stages of model building, from conceptual to analytical. The book demonstrates a range of in-depth practical examples that vividly illustrate important or puzzling dynamics in firm operations, strategy, public policy, and everyday life. This updated new edition also offers a rich Learners' website with models, articles and videos, as well as a separate Instructors' website resource, with lecture slides and other course materials (see Related Websites/Extra section below). Together the book and websites deliver a powerful package of blended learning materials that: Introduce the system dynamics approach of modelling strategic problems in business and society Include industry examples and public sector applications with interactive simulators and contemporary visual modelling software Provide the latest state-of-the-art thinking, concepts and techniques for systems modelling The comprehensive Learners' website features models, microworlds, journal articles and videos. Easy-to-use simulators enable readers to experience dynamic complexity in business and society. Like would-be CEOs, readers can re-design operations and then re-simulate in the quest for well-coordinated strategy and better performance. The simulators include a baffling hotel shower, a start-up low-cost airline, an international radio broadcaster, a diversifying tyre maker, commercial fisheries and the global oil industry. "Much more than an introduction, John Morecroft's Strategic Modelling and Business Dynamics uses interactive 'mini-simulators and microworlds' to create an engaging and effective learning environment in which readers, whatever their background, can develop their intuition about complex dynamic systems." John Sterman, Jay W. Forrester Professor of Management, MIT Sloan School of Management "Illustrated by examples from everyday life, business and policy, John Morecroft expertly demonstrates how systems thinking aided by system dynamics can improve our understanding of the world around us." Stewart Robinson, Associate Dean Research, President of the Operational Research Society, Professor of Management Science, School of Business and Economics, Loughborough University.
Decision making --- Business --- Social systems --- Simulation methods.
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