Modeling goal seeking behaviour when desired goal is changing

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swati
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Modeling goal seeking behaviour when desired goal is changing

Postby swati » Fri Mar 03, 2017 7:34 am

Hi
I have a model in which I have a variable called Actual Price.Following Sterman's price discovery by hill climbing structure ( described in CH13), I am modelling actual price in goal-seeking manner.Actual price adjusts to indicated price.Indicated price, in turn, increases or decreases depending upon relative demand and supply pressures.Therefore, change in price can be negative or positive.Although I have thoroughly followed Sterman's book but i still want to confirm whether I am modelling price formation process coreectly or not.I am attaching a copy of the structure.Please see it once.

Regards
Swati
Attachments
price.mdl
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swati
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Posts: 11
Joined: Mon Jun 13, 2016 3:52 pm
Vensim version: PLE

Re: Modeling goal seeking behaviour when desired goal is changing

Postby swati » Wed Mar 08, 2017 3:02 pm

Please suggest something.

LAUJJL
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Re: Modeling goal seeking behaviour when desired goal is changing

Postby LAUJJL » Thu Mar 09, 2017 1:37 pm

Hi

Do not expect anybody to build your models. The best is to be confident on your own capacity.

I have sent back a slightly modified model, with graphs for the variables, put limits to the constants and added a zidz function to allow the supply to equal 0. From that all you have to do, is to analyze your model by modifying with the synthesim the constants one after the others and trying to verify if the results on the graphs make sense. Once you have done that you can try to modify two constants at the same time etc.

This takes a lot of time and must be done with extreme care. When you have done that you may not need any help any more, at least for this problem.

Regards.

JJ
Attachments
price (3).mdl
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swati
Junior Member
Posts: 11
Joined: Mon Jun 13, 2016 3:52 pm
Vensim version: PLE

Re: Modeling goal seeking behaviour when desired goal is changing

Postby swati » Thu Mar 09, 2017 5:04 pm

Hi JJ
Thanks a lot.I will keep this mind before posting in future.thanks

Regards
Swati


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