It is important to begin any modeling attempt by determining the primary objectives of the decision makers in the field. In forestry there are two interests: production of multiple resources and profit (or cost). Conventional methods of analysis are incapable of handling the two foci adequately; one is always subsumed in the other. The DYNAST model, with the addition of an economic algorithm, provides a means of analyzing the system from both viewpoints without forcing one to dominate the other. This balance is achieved through using capital budgeting techniques such as net present value to represent both the multiple use and profit aspects of money. The economic algorithm can be used to analyze money as one of a host of multiple benefits in comparing management options, or as a method of estimating profitability independent of the context of the model. This latter application makes the algorithm potentially useful in many modeling contexts simulating business investment decisions.

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Date created

• 1983

Type

• Document

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• Processing documentation available at: https://wiki.albany.edu/display/SCA/Processing+Ingested+Digital+Files

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• Creative Commons BY-NC-ND Attribution-NonCommercial-NoDerivs 4.0 International

  
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b0aa2a699b54f0d19f6a9d93bdbcfa18

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Collection

System Dynamic Society Records

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Collecting area

• This collection is part of the University Archives