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Agent-Based Strategizing

Agent-Based Strategizing - Cambridge Elements. Elements in Business Strategy

Paperback (17 Oct 2019)

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Publisher's 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.

About the Publisher

Cambridge University Press

Cambridge University Press dates from 1534 and is part of the University of Cambridge. We further the University's mission by disseminating knowledge in the pursuit of education, learning and research at the highest international levels of excellence.

Book information

ISBN: 9781108738019
Publisher: Cambridge University Press
Imprint: Cambridge University Press
Pub date:
DEWEY: 658.4012
DEWEY edition: 23
Language: English
Number of pages: 49
Weight: 104g
Height: 151mm
Width: 229mm
Spine width: 7mm