Use of the Lyapunov stability method for policy design in a class of system dynamics models

PRATAP K. J. MOHAPATRA Department of Industrial Engineering and Management, Indian Institute of Technology, Kharagpur, P1N-7213O2, India

SUSHIL K. SHARMA Department of Mechanical Engineering, Banaras Hindu University Institute of Technology, Varanasi, India

PURNENDU MANDAL Department of Industrial Engineering and Management, Indian Institute of Technology, Kharagpur, P1N-7213O2, India

Abstract

Policy design in system dynamics models is a complex issue. The use of the Lyapunov stability method, a very popular method in modern control theory, is highlighted in synthetically generating policy structures in a class of system dynamics models that aim at designing policies for stabilizing model response. The use of the method is demonstrated by applying it to a well-known production stock problem.

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Use of the Lyapunov stability method for policy design in a class of system dynamics models

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Use of the Lyapunov stability method for policy design in a class of system dynamics models

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