In this paper we discuss the necessity of models including complex adaptive systems in order to eliminate the shortcomings of neoclassical models based on equilibrium theory. A simulation model containing artificial adaptive agents is used to explore the dynamics of a market of highly replaceable products. A population consisting of two classes of agents is implemented to observe if methods provided by modern computational intelligence can help finding a meaningful strategy for product placement. During several simulation runs it turned out that the agents using CI-methods outperformed their competitors. (author's abstract) / Series: Working Papers SFB "Adaptive Information Systems and Modelling in Economics and Management Science"
Identifer | oai:union.ndltd.org:VIENNA/oai:epub.wu-wien.ac.at:epub-wu-01_1bb |
Date | January 1999 |
Creators | Fent, Thomas |
Publisher | SFB Adaptive Information Systems and Modelling in Economics and Management Science, WU Vienna University of Economics and Business |
Source Sets | Wirtschaftsuniversität Wien |
Language | English |
Detected Language | English |
Type | Paper, NonPeerReviewed |
Format | application/pdf |
Relation | http://epub.wu.ac.at/694/ |
Page generated in 0.0017 seconds