.BusinessSimulation.Stocks.HinesCoflow

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The HinesCoflow is a modification of the classical coflow structure used in system dynamics [6, pp. 50f.]. The traditional coflow is a model of a stock's average quality (e.g., age, weight, price, income etc.) changing, as new entities with different characteristics u flow in while older entities flow out—in which case we assume, that the outflowing entities have an average quality [3, pp. 497-511].

The HinesCoflow makes use of the fact, that the average quality of the entities in the stock is diluted by inflowing entities of different quality, i.e., the process is a smooth with a variable time constant. The benefit of this formulation is, that the average quality of the stock is directly modeled by a stock, so that processes that change the average (e.g., gaining experience over the time of residence for a stock of workers) can be directly modeled as in- or outflows to the HinesCoflow.

Notes

Acknowledgements

The Hines Coflow is explicitly named after its creator, James Hines. More information can be found on his website.

See also

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