Delays

Dirk Inghels
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Dirk Inghels: Vrije Universiteit Amsterdam

Chapter Chapter 11 in Introduction to Modeling Sustainable Development in Business Processes, 2020, pp 185-213 from Springer

Abstract: Abstract In Chap. 10 , we discussed three major elements of system dynamics to model real system behavior: stocks, flows, and feedback loops. In this chapter, we will discuss the fourth and last major element, delay. Whenever they become substantial, delays can create instability and oscillation in systems. Since a delay is a process whose output lags behind its input, at least one stock must be involved to decouple the input from the output of the stock. We recognize two types of delays: material and information delays. Within these two types of delays, we can recognize additional differences. First, we will discuss material delays, then information delays, before finally discussing the dynamics of two archetype system behaviors using delays: oscillating behavior and limits to growth behavior.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-58422-1_11

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DOI: 10.1007/978-3-030-58422-1_11

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