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Using System Dynamics To Contribute To Ecological Economics, Takuro Uehara, Yoko Nagase, Wayne W. Wakeland
Using System Dynamics To Contribute To Ecological Economics, Takuro Uehara, Yoko Nagase, Wayne W. Wakeland
Wayne W. Wakeland
This paper demonstrates the usefulness of the system dynamics approach to the development of ecological economics, the study of the interactions between economic systems and ecological systems. We build and analyze an ecological economic model: an extension of a population–resource dynamics model developed by Brander and Taylor and published in American Economic Review in 1998. The focus of the present paper is on the model building and analysis to contribute to theory building rather than eliciting policy implications from the model. Hence, this is an example of model-based theory building using system dynamics. Our analysis sheds light on several problems …
Using System Dynamics To Contribute To Ecological Economics, Takuro Uehara, Yoko Nagase, Wayne Wakeland
Using System Dynamics To Contribute To Ecological Economics, Takuro Uehara, Yoko Nagase, Wayne Wakeland
Systems Science Faculty Publications and Presentations
This paper demonstrates the usefulness of the system dynamics approach to the development of ecological economics, the study of the interactions between economic systems and ecological systems. We build and analyze an ecological economic model: an extension of a population–resource dynamics model developed by Brander and Taylor and published in American Economic Review in 1998. The focus of the present paper is on the model building and analysis to contribute to theory building rather than eliciting policy implications from the model. Hence, this is an example of model-based theory building using system dynamics. Our analysis sheds light on several problems …
System Dynamics Implementation Of An Extended Brander And Taylor-Like Easter Island Model, Takuro Uehara, Yoko Nagase, Wayne W. Wakeland
System Dynamics Implementation Of An Extended Brander And Taylor-Like Easter Island Model, Takuro Uehara, Yoko Nagase, Wayne W. Wakeland
Wayne W. Wakeland
We provide a system dynamics implementation of a dynamic ecological economics model. Dynamic economic models are often constrained to use functions, such as the Cobb-Douglas function, chosen “conveniently” to allow for analytic solutions. The C-D function, however, suffers from its fixed elasticity that does not allow for the substitutability between man-made capital and natural capital to change, which is vital for economic sustainability. Using system dynamics removes this constraint and enables more realistic ecological economics models containing functions not amenable to analytic solution. The base model is the natural resource and population growth model developed by Brander and Taylor (1998) …
System Dynamics Implementation Of An Extended Brander And Taylor-Like Easter Island Model, Takuro Uehara, Yoko Nagase, Wayne Wakeland
System Dynamics Implementation Of An Extended Brander And Taylor-Like Easter Island Model, Takuro Uehara, Yoko Nagase, Wayne Wakeland
Systems Science Faculty Publications and Presentations
We provide a system dynamics implementation of a dynamic ecological economics model. Dynamic economic models are often constrained to use functions, such as the Cobb-Douglas function, chosen “conveniently” to allow for analytic solutions. The C-D function, however, suffers from its fixed elasticity that does not allow for the substitutability between man-made capital and natural capital to change, which is vital for economic sustainability. Using system dynamics removes this constraint and enables more realistic ecological economics models containing functions not amenable to analytic solution. The base model is the natural resource and population growth model developed by Brander and Taylor (1998) …
An Agent-Based Model Of Trade With Distance-Based Transaction Cost, Kumar Venkat, Wayne W. Wakeland
An Agent-Based Model Of Trade With Distance-Based Transaction Cost, Kumar Venkat, Wayne W. Wakeland
Systems Science Faculty Publications and Presentations
This paper describes an application of agent-based modeling to investigate the effect of a distance-based transaction cost on trade. Long-distance trade is rapidly increasing, but may ultimately be constrained by our ability to move material goods between sellers and buyers. Unlike information exchange, trade in material goods is dependent on the price of oil and vulnerable to future scarcities of oil. In addition, there are growing concerns about greenhouse gas emissions from long-distance transportation. Our purpose in this study is to take the first step in understanding the impact of a distance constraint on free global trade using a simple …