Agent-Based Modeling and Simulation for Management Decisions: A Review and Tutorial
Agent-Based Modeling and Simulation for Management Decisions: A Review and Tutorial
Agent-based modeling and simulation (ABMS) has become one of the most popular simulation methods. It has been applied to a wide range of application areas including business and management. This article introduces ABMS and explains how it can support management decision making. It covers key concepts and the modeling process. AgentPy is used to show the software implementation of the concepts. This article also provides a literature review on ABMS in business and management research using bibliometric analysis and content analysis. It shows that there has been an increase in the research that uses ABMS and identifies several research clusters across management disciplines such as strategic management, marketing management, operations and supply chain management, financial management, and risk management.
Onggo, Bhakti Stephan
8e9a2ea5-140a-44c0-9c17-e9cf93662f80
Joël Foramitti, Joël
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Onggo, Bhakti Stephan
8e9a2ea5-140a-44c0-9c17-e9cf93662f80
Joël Foramitti, Joël
7e795967-4f3c-4d32-aa3c-816e3934e762
Onggo, Bhakti Stephan and Joël Foramitti, Joël
(2021)
Agent-Based Modeling and Simulation for Management Decisions: A Review and Tutorial.
In Proceedings of the 2021 Winter Simulation Conference.
IEEE Press..
(In Press)
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Conference or Workshop Item
(Paper)
Abstract
Agent-based modeling and simulation (ABMS) has become one of the most popular simulation methods. It has been applied to a wide range of application areas including business and management. This article introduces ABMS and explains how it can support management decision making. It covers key concepts and the modeling process. AgentPy is used to show the software implementation of the concepts. This article also provides a literature review on ABMS in business and management research using bibliometric analysis and content analysis. It shows that there has been an increase in the research that uses ABMS and identifies several research clusters across management disciplines such as strategic management, marketing management, operations and supply chain management, financial management, and risk management.
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Accepted/In Press date: 18 June 2021
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Local EPrints ID: 449869
URI: http://eprints.soton.ac.uk/id/eprint/449869
PURE UUID: 7e7bd020-7e7c-4d36-b4c2-d4013f146c3b
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Date deposited: 23 Jun 2021 16:31
Last modified: 17 Mar 2024 03:54
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Author:
Joël Joël Foramitti
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