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Convergence of the Social Fabric Matrix and Complex Modeling

In: Institutional Analysis and Praxis

Author

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  • Michael J. Radzicki

    (Worcester Polytechnic Institute)

Abstract

System dynamics is a computer modeling technique that is used to solve problems in complex socioeconomic systems through the design or redesign of system structure. Its application often involves the elicitation and mapping of knowledge from experts and stakeholders who possess detailed information about the relevant structure and behavior of the system under study. A digital computer is then used to accurately trace through the dynamics inherent in the mapping – a task that humans cannot do reliably via thought and debate due to their inherent cognitive limitations. The purpose of this chapter is to illustrate how Hayden’s Social Fabric Matrix can add value to system dynamics modeling by introducing discipline and an organizational framework based on institutional economic theory to the knowledge elicitation process. Potential pitfalls are discussed and examples are provided. An important conclusion is that the combination of the two tools can be profitably used for consensus building among experts – a result that is vital for effective policy formulation.

Suggested Citation

  • Michael J. Radzicki, 2009. "Convergence of the Social Fabric Matrix and Complex Modeling," Springer Books, in: Tara Natarajan & Wolfram Elsner & Scott Fullwiler (ed.), Institutional Analysis and Praxis, pages 69-85, Springer.
    • Handle: RePEc:spr:sprchp:978-0-387-88741-8_5
    DOI: 10.1007/978-0-387-88741-8_5
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    Cited by:

    1. Gräbner, Claudius, 2015. "Formal Approaches to Socio Economic Policy Analysis - Past and Perspectives," MPRA Paper 61348, University Library of Munich, Germany.
    2. Elsner, Wolfram, 2015. "Policy Implications of Economic Complexity and Complexity Economics," MPRA Paper 63252, University Library of Munich, Germany.

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