Agent-Based Models in Strategic Management

Agent based models are becoming a more mature method of studying organizational and strategic management problems. In this talk, we review some of the considerations to be used when developing agent-based models in an applied research area, that is a research area that is not concerned primarily with modeling or simulation per se but is concerned with research questions specific to its domain. We consider the problems of ‘agentizing’ existing models, for example turning analytical models into agent-based models where the ‘quantized agent’ may provide difficulties in this agentization; we also discuss how agent-based models have been utilized in one area of management – that of strategic management. We provide suggestions for further work where agent-based modeling may provide answers to research questions that have not been answered using traditional techniques.