A short history of computational simulation in management

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Chapter 1 in How Do I Develop an Agent-Based Model?, 2022, pp 1-19 from Edward Elgar Publishing

Abstract: This chapter introduces computational simulation in business, management, and organisation research (BMOR). It does so by looking at the first models (especially the "garbage can model") and at the two techniques/approaches more popular in the past decades. One such technique is System Dynamics, mostly used to study the development and intensity of a system's changes. The other is NK models, where the focus shifts on the fitness that a particular entity has with a given environment. By presenting an overview of the strengths and weaknesses of these techniques, the uniqueness of agent-based modelling (ABM) is identified.

Keywords: Business and Management; Economics and Finance; Research Methods (search for similar items in EconPapers)
Date: 2022
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