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Sensitivity and Uncertainty: Locust Plagues and Price Dynamics of Commodities

In: Managing Complexity in Social Systems

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  • Christoph E. Mandl

    (University of Vienna, Mandl, Lüthi & Partner)

Abstract

One of the beauties of working with the semasiographic language of SFD—Stock and Flow Diagram—is its potential to find common dynamics between two seemingly different systems. If two SFDs look alike, then no matter how different the elements may appear, their behavior pattern is alike. When such a similarity becomes clear, then understanding the behavior of one system helps understanding the behavior of the other. In natural languages, referring to one thing by mentioning another thing is called a metaphor, like the famous one by Shakespeare (1623):

Suggested Citation

  • Christoph E. Mandl, 2019. "Sensitivity and Uncertainty: Locust Plagues and Price Dynamics of Commodities," Management for Professionals, in: Managing Complexity in Social Systems, chapter 8, pages 81-90, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-01645-6_8
    DOI: 10.1007/978-3-030-01645-6_8
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