An agent-based simulation model representing a theory of the dynamic processes involved in innovation in modern knowledge-based industries is described. The agent-based approach allows the representation of heterogeneous agents that have individual and varying stocks of knowledge. The simulation...

Purpose – This study aims to explore optimal pricing strategies for innovations with direct network externalities – the effect that the number of adopters of an innovation has on the utility of the innovation to other potential adopters. Examples of such innovations are fax machines,...

An ongoing debate revolves around determining effects of public funds for research given the considerable complexity of the innovation process. While government intervention is usually not questioned per se, appraising the role of specific intervention types remains a lively debated issue in the...

This paper is an extension of the paper 'The Robustness of Agent-Based Models of Electricity Wholesale Markets', EPRG1213 which was motivated by the problem of analysing market power in liberalised electricity markets. That paper examined two particular forms of agent-based models commonly used...

Joint household travel, with or without joint participation in an activity, constitutes a fundamental aspect in modelling activity-based travel behaviour. This paper examines joint household travel arrangements and mode choices using a utility maximising approach. An individual tour-based mode...

Many scholars express concerns that herding behaviour causes excess volatility, destabilises financial markets, and increases the likelihood of systemic risk. We use a special form of the Strongly Typed Genetic Programming (STGP) technique to evolve a stock market divided into two groups—a...

Climatic change is likely to have an influence on arable farms in Central Europe. We use a modelling approach to assess the effects of weather and its long term development due to climate change on short-term decisions like planting and harvesting, as well as yields. Two models are coupled, a...