We study the influence of technological efficiency and organizational inertia on the emergence of competition when firms decide myopically. Using an agent-based computer simulation model, we observe the competitive reaction of a former monopolist to the advent of a new competitor.(...)

This paper studies how software agents influence the market behavior ofhuman traders. Programmed traders with a passive arbitrage seekingstrategy are introduced in a double auction market experiment with humansubjects in the laboratory. As a treatment variable, the influence ofinformation on the...

We introduce a generic simulation framework suitable for agent-based simulations featuring the support of heterogeneous agents, hierarchical scheduling and flexible specification of design parameters.(...)

This paper proposes validation using simulation based indirect estimation. It uses typical characteristic moments of financial market data to assess the similarity of simulation outcomes.

The aim of this book is to demonstrate how Agent-Based Modelling (ABM) can be used to enhance the study of social agency, organizational behavior and organizational management. It derives from a workshop, sponsored by the Society for the Study of Artificial Intelligence and the Simulation of...

This book includes many cases that provide new perspectives in developing agent-based modeling and simulation. The real problems are complex, and sophisticated methodology is needed to handle them. Agent-based modeling and simulation is one methodology that provides a bottom-up experimental...