System dynamics and agent-based modeling are compared as two conceptually different approaches to model complex dynamic systems. The two methodologies are evaluated in terms of ease of modeling, efficacy, and extensibility of model complexity. A set of experiments was performed to find that each methodology has unique advantages and that it is possible to make an appropriate choice based on the problem at hand. It is suggested that there exist promising opportunities for a cooperative approach that exploits advantages from both methodologies.
Worcester Polytechnic Institute
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Social Science and Policy Studies