Elasticity

Fractional rate of change is proportional to that of the influencing stock

Diagram

Information

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In a dynamic relation, a given elasticity coefficient (coefficient) implies that the fractional rate of change for an influenced stock B is proportional to the fractional rate of change for the influencing stock A, which is connected via the stockInfoInput. The factor of proportionality in this case is called the A-elasticity of B. The rate of change for the stock B that is connected to the flowPort accordingly is given by the following equation, which uses Newton's dot notation for rates:

Ḃ = ...

Implementation

DiagramView

Notes

The given elasticity coefficient can optionally be multiplied by an exogenous input u.

By setting coefficient = 1 the input u can be used to provide a variable elasticity coefficient.

Parameters (4)

hasRateOutput	Value: false Type: Boolean Description: = true, if the rate is reported via real output connectors
coefficient	Value: 1 Type: InputType Description: Constant coefficient
hasFactor	Value: false Type: Boolean Description: = true, if coefficient is to be multiplied with input u
isCCR	Value: true Type: Boolean Description: = true, if the factional rate given is assumed to be a continuously compounding rate else the rate will be converted (growing.isCCR)

Connectors (6)

	flowPort	Type: FlowPort Description: Used to represent stock and flow connections
	y	Type: RealOutput Description: Output of current rate of flow
	y1	Type: RealOutput Description: Output of current rate of flow
	stockInfoInput	Type: StockInfoInput Description: Input of record with stock-related information
	u	Type: RealInput Description: Input of factor with regard to coffeficient
	one	Type: RealInput Description: Default factor

Components (6)

	parCoefficient	Type: ConstantConverter Description: Constant coefficient (optional)
	actualCoefficient	Type: Product_2 Description: Inputs are multiplied
	absoluteSensor1	Type: AbsoluteSensor Description: Reports basic stock–related information
	exponentiallyChanging	Type: ExponentialChange Description: Exponential growth or decline of connected stock
	fracGrowthRateStock	Type: Division_Guarded Description: Zero if divided by zero
	fracGrowthRate	Type: Product_2 Description: Inputs are multiplied