Agent-Based Strategizing (Paperback)

Duncan A. Robertson

ISBN 10: 110873801X / ISBN 13: 9781108738019

Published by Cambridge University Press, Cambridge, 2019

About this Item

Paperback. Strategic management is a system of continual disequilibrium, with firms in a continual struggle for competitive advantage and relative fitness. Models that are dynamic in nature are required if we are to really understand the complex notion of sustainable competitive advantage. New tools are required to tackle challenges of how firms should compete in environments characterized by both exogeneous shocks and intense endogenous competition. Agent-based modelling of firms' strategies offers an alternative analytical approach, where individual firm or component parts of a firm are modelled, each with their own strategy. Where traditional models can assume homogeneity of actors, agent-based models simulate each firm individually. This allows experimentation of strategic moves, which is particularly important where reactions to strategic moves are non-trivial. This Element introduces agent-based models and their use within management, reviews the influential NK suite of models, and offers an agenda for the development of agent-based models in strategic management. There is a whole history of models from systems models, organizational ecology, and general fitness landscape models that can be converted to agent-based models and used for the study of strategic management. This book introduces agent-based models and their use within management, and offers an agenda for their development in strategic management. Shipping may be from multiple locations in the US or from the UK, depending on stock availability.

Seller Inventory # 9781108738019

Bibliographic Details

• Title: Agent-Based Strategizing (Paperback)
• Publisher: Cambridge University Press, Cambridge
• Publication Date: 2019
• Language: English
• ISBN 10: 110873801X
• ISBN 13: 9781108738019
• Binding: Paperback
• Condition: new

About this title

Synopsis

Strategic management is a system of continual disequilibrium, with firms in a continual struggle for competitive advantage and relative fitness. Models that are dynamic in nature are required if we are to really understand the complex notion of sustainable competitive advantage. New tools are required to tackle challenges of how firms should compete in environments characterized by both exogeneous shocks and intense endogenous competition. Agent-based modelling of firms' strategies offers an alternative analytical approach, where individual firm or component parts of a firm are modelled, each with their own strategy. Where traditional models can assume homogeneity of actors, agent-based models simulate each firm individually. This allows experimentation of strategic moves, which is particularly important where reactions to strategic moves are non-trivial. This Element introduces agent-based models and their use within management, reviews the influential NK suite of models, and offers an agenda for the development of agent-based models in strategic management.

Book Description

There is a whole history of models from systems models, organizational ecology, and general fitness landscape models that can be converted to agent-based models and used for the study of strategic management. This book introduces agent-based models and their use within management, and offers an agenda for their development in strategic management.