Abstract
This study significantly expands upon previous research by Hill and Watkins [Hill, Ronald Paul and Watkins, Alison, (2007), “A Simulation of Moral Behavior within Marketing Exchange Relationships,” Journal of the Academy of Marketing Science, 35 (2), 417–429] involving business-to-business exchanges through the use of a more sophisticated simulation and a different theoretical orientation. Profitability implications for sellers and firms in the context of information sharing and dynamic firm adaptation are explored using q-learning evolutionary models and embedded artificial trading agents in a competitive environment. This method allows buyer agents to react to complex and evolving circumstances based on historical information about seller agents. The results suggest that sellers with more cooperative strategies are more profitable in the long run, especially when firms employ multiple agents.
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