Abstract
Integration is the process whereby a rate variable is added, in increments, to a stock, an accumulated amount. Obviously, integration is necessary in solving rate or differential equations, and STELLA is designed to perform this process. STELLA can also do the opposite, differentiate, find the rate of change of a variable or slope of a curve. We would use this process to identify a variable’s maximum or minimum value.
The order of historical events clearly shows the true position of the variational principle: It stands at the end of a long chain of reasoning as a satisfactory and beautiful condensation of the results.
Max Born
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© 1997 Springer-Verlag New York, Inc.
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Ruth, M., Hannon, B. (1997). Derivatives and Lags. In: Modeling Dynamic Economic Systems. Modeling Dynamic Systems. Springer, New York, NY. https://doi.org/10.1007/978-1-4612-2268-2_6
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DOI: https://doi.org/10.1007/978-1-4612-2268-2_6
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