Markov models and System Dynamics models are apparently applicable to two completely different kinds of problems. However, structurally, they can be proved to be equivalent to each other. This paper establishes this equivalence. Critical observation have been made with regard to similarity and aparent differences between the two methodologies. The paper has also proposed a procedure for converting Markov models into system dynamics models. Examples have been drawn for the Birth-Death process, M/M/1 Queue, Poisson Process and Yule Process to illustrate the method. It has been shown that such a framework makes the model for stochastic processes much more transparent and enables the system analyst to understand the behaviour better.

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Date created

• 1991

Type

• Document

Processing Activity

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

License

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

  
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ITEM CONTEXT

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d1cfc0fcedb4f6334f34d1ca11dcf292

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Part of

51aed0dc79e37960f64cad2ef0f9a82a

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Part of

23d738ba88f8333bc39725f9cb5bd0b8

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Collection

System Dynamic Society Records

Scope and Contents

Collecting area

• This collection is part of the University Archives