Abstract for: Optimizing with Vensim
This one and one half hour workshop will introduce the process of optimizing dynamics feedback models using Vensim. Working with a simply oil field depletion model the process of optimizing in order to maximize financial performance will be demonstrated. Participants are encouraged to follow the workshop on their own computers, and an evaluation version of Vensim will be made available to those wishing to do so. To close the workshop a simple calibration problem will be presented and the potentials and limitations of calibration using data will be briefly discussed.