An Institutional Dynamics Model of Sterling, Massachusetts: Indicative Planning at the Local Level
In a series of papers, Radzicki [1988, 1990a, 1990bl and Radzicki and Sterman [19931 have argued that system dynamics computer simulation modeling and institutionalist pattern modeling are strikingly similar and hence should be combined to form a more powerful institutional dynamics approach to socioeconomic analysis. Although these papers put forth the theoretical case for a marriage between the two perspectives, they did not present an actual institutional dynamics pattern model. The purpose of this paper is to fill that void. In addition, this paper will discuss how the institutional dynamics modeling process can add value to indicative planning at the local level.