Abstract
Business environments are complex and ill-defined. New developments in evolutionary computing allow the realistic modeling of complex and ill-defined business environments. Evolutionary computing tools are used to build a competitive market that mimics Hunt's General Theory of Competition (HGTC), in which competition is disequilibrium provoking and both innovation and organizational learning are endogenous. A discussion illustrates how this form of simulation can be valuable to the business strategist and also serve as an alternative method for competitive market strategy research.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 1155-1168 |
| Number of pages | 14 |
| Journal | Journal of Business Research |
| Volume | 58 |
| Issue number | 9 SPEC. ISS. |
| DOIs | |
| State | Published - Sep 2005 |
| Externally published | Yes |
Keywords
- Agent-based model
- Competition
- Game theory
- Genetic algorithms
- Marketing strategy
ASJC Scopus subject areas
- Marketing
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