Abstract for: Calibration and Optimization in Vensim

This workshop will introduce the process of optimizing dynamic feedback models using Vensim. We will look at two uses for optimization: calibration and identification of good policies. We will work with a simple market model to estimate parameters consistent with data, and then develop a marketing policy that works well in the calibrated market. The workshop will focus primarily on practical aspects of optimization, but will introduce enough theory to give participants insight into the fundamentals of the process.