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SDS Economics SIG: Roberto Pasqualino presents “Economics of System Dynamics modelling: Expertise from the ERRE model”
February 5, 2021 @ 3:00 pm - 4:00 pm EST
The System Dynamics Society Economics SIG and WPI System Dynamics host Dr. Roberto Pasqualino who will present his work on his Resources, Financial Risk and the Dynamics of Growth book. The book presents a deep analysis on the World3 and provides a global updated model (ERRE) from the thesis of Prof Sterman of 1981 + World3-03. This also includes an analysis of economic literature, state of world limits and comes accompanied with the Vensim model + documentation that are available online at Anglia Ruskin University website.
The Economic Risk Resources and Environment (ERRE) system dynamics model is a stock and flow consistent model developed for the analysis of systemic risk at the global scale. ERRE had been developed based on the World3-2003 and Professor Sterman’s PhD thesis models.
This presentation exploits the expertise maturated in the development of the ERRE model to deal with a key topic of System Dynamics (SD), in particular when aiming at policy consultancy in economics context. The fundamental research questions for this presentation can be summarized as:
– How to build an Economic System Dynamics model that does not contradict itself when embedding different economic theories?
– Why System Dynamics can be considered as agreeing with more schools of economics?
– What can be considered as one unique factor that differentiates System Dynamics from any other economic modelling method?
The content of this presentation is relative to the book ‘Resources, Financial Risk and the Dynamics of Growth
Roberto Pasqualino is Researcher Fellow of the Global Sustainability Institute at Anglia Ruskin University, UK and Chief Innovation Officer of Exoshock Ltd, a systemic risk analysis company based on Roberto’s research. With background and culture in industrial engineering, Roberto’s research interest is in system dynamics modelling of industrial policies for the analysis of financial risk and sustainability.
Roberto developed the Economic Risk Resources and Environment (ERRE) system model to capture the financial risks emerging from the interaction between the dynamics of growth and global ecological constraints, during his PhD and research activity since 2014. ERRE is available in “Resources, Financial Risk and Dynamics of Growth – Systems and Global Society, Routledge Oxford”.
Roberto has recently joined the Economics of Energy Innovation and Systems Transitions (EEIST) consortium focusing on the energy transition in partner countries, including China, India, Brazil, Europe, and UK.
We will record this presentation and post it to the SD Econ SIG YouTube Channel. If we exceed the maximum capacity for the Zoom room, then we will also livestream the presentation to the Econ SIG YouTube
Call-in details: CLM-2021-02-05