The Impact of Human Decision Makers’ Individualities on The Wholesale Price Contract’s Efficiency: Simulating The Newsvendor Problem Stavrianna Dimitriou, Stewart Robinson, Kathy Kotiadis. 2009 Winter Simulation Conference (WSC’09), December 13-16, Austin, TX, USA

Suppliers and retailers in the newsvendor setting need to submit their pricing and inventory decisions respectively, well before actual customer demand is realized. In the literature they have both been typically considered as perfectly rational optimizers, exclusively interested in their own respective benefits. Under the above set of conditions the wholesale price-only contract has long been analytically proven as inefficient.
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Using AnyLogic and agent based approach to model consumer market Maxim Garifullin, Andrei Borshchev, Timofei Popkov. EUROSIM 2007, September 9-13, Ljubljana, Slovenia

In the highly dynamic, competitive and complex market environments (such as telecom, insurance, leasing, health, etc) the consumer’s choice essentially depends on a number of individual characteristics, inherent dynamics of the consumer, network of contacts and interactions, and external influences that may be best captured within the Agent Based modeling paradigm. The Agent Based modeling is especially advantageous in the consumer market domain as it allows to leverage the full amount of individual-centric data from the CRM (Customer Relationships Management) systems highly available these days. Although there are no universal straightforward instructions for building Agent Based models, there are certain common steps and patterns. The goal of this paper is to introduce the patterns in consumer market modeling most frequently met in our consulting practice. The modeling language of AnyLogic is used throughout the paper
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