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BAE 102 Student Lecture Notes Week Fourteen


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Unformatted text preview: formation they have. But they do not have perfect information, especially about more distant parts of the system. Fishermen do not know how many fish there are, much less how many fish will be caught by other fishermen that same day. The bounded rationality of each actor in a system may not lead to decisions that further the welfare of the system as a whole. Note: Information about the existence of a problem may be necessary but not sufficient to trigger action – Systems can be more than surprising there are systems that are structured in ways that produce truly problematic behavior: they cause us great trouble. other factors include information about resources, incentives, and consequences” System structures that produce common patterns of problematic behavior are called ________________. 2 | P a g e System archetypes. 1. ________________ ‐ balancing feedback loop struc...
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