The emergence of knowledge exchange: An agent-based model of a software market

Maria Chli, Philippe De Wilde

Research output: Contribution to journalArticle

6 Citations (Scopus)

Abstract

We investigate knowledge exchange among commercial organizations, the rationale behind it, and its effects on the market. Knowledge exchange is known to be beneficial for industry, but in order to explain it, authors have used high-level concepts like network effects, reputation, and trust. We attempt to formalize a plausible and elegant explanation of how and why companies adopt information exchange and why it benefits the market as a whole when this happens. This explanation is based on a multiagent model that simulates a market of software providers. Even though the model does not include any high-level concepts, information exchange naturally emerges during simulations as a successful profitable behavior. The conclusions reached by this agent-based analysis are twofold: 1) a straightforward set of assumptions is enough to give rise to exchange in a software market, and 2) knowledge exchange is shown to increase the efficiency of the market. © 2008 IEEE.

Original languageEnglish
Pages (from-to)1056-1067
Number of pages12
JournalIEEE Transactions on Systems, Man, and Cybernetics Part A: Systems and Humans
Volume38
Issue number5
DOIs
Publication statusPublished - 2008

Keywords

  • Adaptive behavior
  • Agent-based modeling
  • Business economics
  • Cooperative systems
  • Intelligent agents
  • Multiagent systems

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