Managing Business Complexity: Discovering Strategic Solutions with Agent-Based Modeling and…

Hardcover | March 15, 2007

byMichael J. North, Charles M. Macal

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Agent-based modeling and simulation (ABMS), a way to simulate a large number of choices by individual actors, is one of the most exciting practical developments in business modeling since the invention of relational databases. It represents a new way to understand data and generate informationthat has never been available before--a way for businesses to view the future and to understand and anticipate the likely effects of their decisions on their markets and industries. It thus promises to have far-reaching effects on the way that businesses in many areas use computers to supportpractical decision-making. Managing Business Complexity is the first complete business-oriented agent-based modeling and simulation resource. It has three purposes: first, to teach readers how to think about ABMS, that is, about agents and their interactions; second, to teach readers how to explain the features andadvantages of ABMS to other people and third, to teach readers how to actually implement ABMS by building agent-based simulations. It is intended to be a complete ABMS resource, accessible to readers who haven't had any previous experience in building agent-based simulations, or any other kinds ofmodels, for that matter. It is also a collection of ABMS business applications resources, all assembled in one place for the first time. In short, Managing Business Complexity addresses who needs ABMS and why, where and when ABMS can be applied to the everyday business problems that surround us, andhow specifically to build these powerful agent-based models.

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From the Publisher

Agent-based modeling and simulation (ABMS), a way to simulate a large number of choices by individual actors, is one of the most exciting practical developments in business modeling since the invention of relational databases. It represents a new way to understand data and generate informationthat has never been available before--a way...

Michael J. North, MBA, Ph.D., is the Deputy Director of the Center for Complex Adaptive Agent Systems Simulation within the Decision and Information Sciences Division of Argonne and the University of Chicago. Charles M. Macal, Ph.D., P.E., is the Director of the Center for Complex Adaptive Agent Systems Simulation within the Decis...

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Format:HardcoverDimensions:328 pages, 6.89 × 10.12 × 1.1 inPublished:March 15, 2007Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0195172116

ISBN - 13:9780195172119

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Table of Contents

1. The Challenge2. The ABMS Paradigm3. Agents Up Close4. The Roots of ABMS5. The Role of ABMS6. Discovering Agents and Agent Behaviors7. Office ABMS8. How to Do Desktop ABMS9. How to Do Participatory ABMS10. How to Do Large-Scale ABMS11. ABMS Verification and Validation12. A Visual Approach to Data Collection and Cleaning13. Understanding and Presenting ABMS Results14. ABMS Project Management15. Rising to the Challenge

Editorial Reviews

"Managing Business Complexity is a thorough, practical, and easy-to-understand guide to effective agent-based modeling and simulation. It's a must read for anyone considering applications of agent-based modeling for solving real-world problems."--Vincent P. Roske, Jr., Former Deputy Directorfor Wargaming, Simulation, and Analysis, U.S. Department of Defense Joint Staff Force Structure, Resources, and Assessment Directorate