A dynamic feasibility analysis of public investment projects: An integrated approach using system dynamics and agent-based modeling

  title={A dynamic feasibility analysis of public investment projects: An integrated approach using system dynamics and agent-based modeling},
  author={Haejin Jo and Hakyeon Lee and Yongyoon Suh and Jieun Kim and Yongtae Park},
  journal={International Journal of Project Management},

Figures and Tables from this paper

Understanding laborers’ behavioral diversities in multinational construction projects using integrated simulation approach
Purpose Employing multi-type laborers (MLs) is common in multinational and cross-culture projects (MPCs). Different attributes of MLs can lead to uncertain and dynamic laborer behaviors (i.e.
Delft University of Technology A recent overview of the integration of System Dynamics and Agent-based Modelling and Simulation
Modelling and simulation aim to reproduce the structure and imitate the behavior of real-life systems. For complex dynamic systems, System Dynamics (SD) and Agent-based (AB) modelling are two widely
A recent overview of the integration of System Dynamics and Agent-based Modelling and Simulation
The literature review concludes that while paradigm emulation has contributed to expanding the applications of SD, it is the dynamic combination of the two approaches that has become the most promising research line.
Understanding the Social Contagion Effect of Safety Violations within a Construction Crew: A Hybrid Approach Using System Dynamics and Agent-Based Modeling
A hybrid simulation approach is developed to look into the cognitive, social, and organizational aspects that can determine the social contagion effect of safety violations within a construction crew and shows that different interventions should be employed for different work environments.
Multi Agent System (MAS) Use in Construction Management Literature
This study aims to investigate in which topics multi agent system approach is used in construction management area by using comprehensive literature review as the research methodology and identifying appropriate construction management topics in which MAS approach can be used.
System Dynamic Theoretical Framework for Construction Management: A Case of Baltic States
  • Toms Sirovs
  • Business
    Baltic Journal of Real Estate Economics and Construction Management
  • 2022
Abstract As a result of the rapid development of the construction industry, in recent years, research has increasingly used system dynamics (SD) modelling to determine the positive and negative
Using System Dynamics for Simulation and Optimization of an Investment Decision System Under Uncertainty
Financial problems have been the subject of many researches. Taking into account investment and having the best portfolio, selecting the best subsidiary companies for investment has long been


Emergent structures in supply chains - a study integrating agent-based and system dynamics modeling
The paper discusses the strengths and weaknesses of system dynamics and discrete agent-based modeling, and an approach for integration of the two modeling methodologies is presented.
Design for a Multilayer Model of Financial Stability: Exploring the Integration of System Dynamics and Agent-based Models
This paper presents a domain in which a combined approach (hybrid model) seems to offer advantages and two approaches to addressing the problem of integrating data from different levels of aggregation with the use of system dynamics and agent-based models are presented.
Agent-based and system dynamics modeling: a call for cross study and joint research
  • H. Scholl
  • Computer Science
    Proceedings of the 34th Annual Hawaii International Conference on System Sciences
  • 2001
An overview of the general modeling principles of both tracks is given, their areas of applicability are described, and it tries to identify areas in which the two modeling traditions complement each other, and where they overlap.
Integrating Agent-based Simulation and System Dynamics to support product strategy decisions in the automotive industry
The aim of this paper is to develop a framework for the analysis of product strategies in the automotive industry with special regard to alternative fuel and powertrain technologies, which integrates System Dynamics and Agent-based Simulation in a simulation environment.
Assessing Uncertainty and Risk in Public Sector Investment Projects
The feasibility and profitability of large investment projects are frequently subject to a partially or even fully undeterminable future, encompassing uncertainty and various types of risk. We
The environment and cost-benefit analysis in feasibility studies
Multi-agent power market simulation using EMCAS
Countries around the world continue to restructure their electricity markets and open them up to competition and private investors in pursuit of economic efficiency and new capital investment.
Strategic Implementation of Infrastructure Priority Projects: Case Study in Palestine
A strategy was developed for implementation and management of multisector urban infrastructure projects. The strategy includes risk-based analytical hierarchy process (AHP) for project prioritization
Modeling the Forest or Modeling the Trees - A Comparison of System Dynamics and Agent-Based Simulation
The primary conceptual predispositions underlying the two approaches to System Dynamics and Agent-Based Simulation are uncovered and ideas about how the approaches could be integrated are presented.