Positive Feedback in the Economy

  • Matthias Ruth
  • Bruce Hannon
Chapter
Part of the Modeling Dynamic Systems book series (MDS)

Abstract

Every real dynamic system has feedback, the connection between a given action and the reaction throughout the rest of the system. Information about the action must be conveyed in the model to these other parts of the system and these information flows are known as feedbacks. They are essential in achieving a model that is a realistic representative of the real world process.

Reference

  1. Arthur B (1990) Feedbacks in the economy. Sci Am 262:92–99Google Scholar

Copyright information

© Springer Science+Business Media, LLC 2012

Authors and Affiliations

  • Matthias Ruth
    • 1
  • Bruce Hannon
    • 2
  1. 1.University of MarylandCollege ParkUSA
  2. 2.University of IllinoisUrbanaUSA

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