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Sterman Business Dynamics Challenge Solutions PDF  Form

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So all models are imperfect, no models are the real system, and so it's critical to ask, in the spirit of continuous improvement, what are the biggest problems? What are the biggest flaws in the model? So let me suggest a few. First of all, although the model captures a wide range of feedbacks, interactions between resources, energy production, energy prices, the evolution of the energy system, the economy and the climate, it doesn't capture some important feedbacks that we know are real but are very hard to quantify. In particular, climate change, global warming, is already harming human welfare, it's already reducing economic output and destroying critical infrastructure and capital stocks that are the foundation for future economic growth. That's already happening now, when we've warmed the planet just about 1°C or 2° Fahrenheit. We know that that's going to get a lot worse, that the damage from climate change is going to get a lot w

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