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Turbulence, uncertainty, dynamic processes, and networks increasingly characterize competitive markets and business strategies. Consequently, there's a need to model such markets and strategies as dynamic, evolutionary processes that is, as complex adaptive systems. Agent-based modeling, a rich platform for studying complex evolving systems, is used to model a market where ambidextrous and nonambidextrous organizations compete for buyers. Viewing competitive market and business processes as interactions among agents who mutually influence each other reduces economics to its most microscopic level. Social networks such as the Internet have attracted much research attention because of the rise in stock fraud on the Internet.
Date of Publication: Sept.-Oct. 2007