Antifragility as a design criterion for modelling dynamic systems

Harald de Bruijn, Andreas Größler, Nuno Videira

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

Highly improbable events can have a substantial impact on complex socio-economic systems and are frequently difficult to predict beforehand but easy to explain afterwards. Antifragile systems can withstand and benefit from this kind of outlier events, whereas merely robust systems cannot in any case. Yet the aim to design robust systems is almost as old as the system dynamics field itself. This research therefore aims to investigate the extent to which an antifragile system design criterion is more valuable than a robust one. By means of an extensive literature review, a simulation model was constructed, which is demonstrated to be antifragile. Comparing the antifragile and robust versions of the model shows that the former—as theorized—yields more favourable results in an environment with impactful outlier events. Implementing antifragility in systems involves the difficult task of changing policies (and, eventually, the mental models) of decision-makers. Consequently, this research concludes that antifragility should not and cannot always be attained; its feasibility is to be assessed at the start of a system dynamics modelling project.

Original languageEnglish
JournalSystems Research And Behavioral Science
DOIs
Publication statusPublished - 1 Jan 2019

Fingerprint

event
economic system
System dynamics modeling
simulation model
decision maker
Outliers
Literature review
System design
System dynamics
Simulation model
Socio-economic systems
Decision maker
Mental models
Robust design
literature

Keywords

  • antifragility
  • black swans
  • system dynamics

Cite this

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Antifragility as a design criterion for modelling dynamic systems. / de Bruijn, Harald; Größler, Andreas; Videira, Nuno.

In: Systems Research And Behavioral Science, 01.01.2019.

Research output: Contribution to journalArticle

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AU - Größler, Andreas

AU - Videira, Nuno

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