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Development and validation of a multi-agent simulation of consumers, retailers and manufacturers

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Resource description

The authors are working on an important problem in business, namely understanding the complex interactions between consumers, retailers and manufacturers. They have developed an agent-based model based on both the academic literature and our understanding of the marketing of frequently purchased products. This model has been embedded in a genetic algorithm optimizer for purposes of verification and validation. However, the results they will present from the verification stage, together with considerations of the likely data available for validation, suggest that a different approach may be needed for building, verifying and validating such models. This approach will emphasize minimalism and a clear focus on validation from the start of model development.

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en

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application/pdf

Resource resource URL

http://flora.insead.edu/fichiersti_wp/inseadwp2005/2005-78.pdf

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Copyright INSEAD. All rights reserved