Abstract
For many years, computer modeling and simulations in business have been used for statistical analysis or for visual representations of complex data. Recently, a new modeling approach has been developed—agent-based modeling—in which the agents in a complex simulated world interact with each other and the environment based on a set of often simple rules. Agent-based models (ABM) were initially developed for advanced scientific, social science, and military research (Bar-Yam, 1997; Epstein & Axtell, 1996; Holland, 1995; Langton, 1995E; Pagels, 1988), but to date, there have been relatively few applications of ABMs in business and industry (Farrell, 1998). This paper describes our preliminary work on an ABM for business that deals with adaptability and co-evolution involving alternate distribution channels and electronic commerce.
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