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SUMMARY:Integrating Economics and System Dynamics Approaches for Modeling 
 an Ecological-Economic System - Dr Yoko Nagase\, Oxford Brookes University
DTSTART:20131016T150000Z
DTEND:20131016T160000Z
UID:TALK48195@talks.cam.ac.uk
CONTACT:Joanna Laver
DESCRIPTION:This talk describes collaboration between system dynamicists a
 nd economists to model a multi-sector\, ecological-economic model of popul
 ation and resource dynamics that is firmly based on economic theory and le
 verages the strengths of both fields.  This model illuminates how an SD ap
 proach allows model complexity to be extended in order to effectively mode
 l interactions between an economic system and an ecological system.  Speci
 fically\, the simulation exercise demonstrates how SD model analysis can h
 elp explain counterintuitive model behaviors resulting from increases in n
 atural resource carrying capacity or regeneration rate. The simulation res
 ults also reveal that allowing for out-of-equilibrium states (adaptation) 
 significantly affects the dynamics of ecological economic systems\, a poin
 t often neglected in the economics literature. These findings\, while fami
 liar to system dynamicists\, highlight the potential for SD to contribute 
 to other disciplines\, including economics.\n\nDr Yoko Nagase is currently
  Programme Lead for Economics at Oxford Brookes University.  After the com
 pletion of her Ph.D. in Economics at the University of Oregon\, in Eugene\
 , Oregon\, she worked for various universities in the US before moving to 
 the UK four years ago.  Her research area is Environmental and Natural Res
 ource Economics\, and recent research topics includes municipal waste mana
 gement\, discounting and application of system dynamics to economic modell
 ing.
LOCATION:Mill Lane Lecture Room 7
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