Joint CSAM & Management Studies Seminar: Simple Models for a Complex World

Management

Speaker:Prof Stewart Robinson, Dean and Professor of Management Science, School of Business and Economics, Loughborough University
Website: http://www.lboro.ac.uk/departments/sbe/staff/stewart-robinson/
Date: Thursday 24 May 2018
Time: 13:30 - 15:30
Location: Building One Matrix Lecture Theatre

Further details

Abstract

Simulation models provide simplified representations of the real world which are useful for understanding and predicting the future; but how simple should they be?  In developing such models there is a tension between obtaining approximate results quickly from a simple model and making extended efforts to generate models with a high level of fidelity.  In this talk I shall discuss why simple models can be better.  In doing we shall see some examples of simulation models that have been applied by business and the public sector, showing how they were used and the benefits that were obtained; including an example of a REF impact case.  Although this seminar focuses on the use of simulation models, the lessons have much wider applicability for the application of models in business and management.

 

AUTHOR BIOGRAPHY

Stewart Robinson is Dean and Professor of Management Science at Loughborough University, School of Business and Economics.  Previously employed in simulation consultancy, he supported the use of simulation in companies throughout Europe and the rest of the world.  He is author/co-author of six books on simulation.  His research focuses on the practice of simulation model development and use.  Key areas of interest are conceptual modelling, model validation, output analysis and alternative simulation methods (discrete-event, system dynamics and agent based).  Professor Robinson is co-founder of the Journal of Simulation and the UK Simulation Workshop conference series.  He was President of the Operational Research Society (2014-2015).