Agent-based modeling has proven effective in increasing the understanding of complex systems, including social-economical systems. Agoal of modeling complex systems is to distill the system into simple agents with phenotypes guided by simple rules. The model then displays the emergent behavior of these agents interacting with each other and their environment. An agent-based model of innovation and its place in a global economy or ecosystem is presented. The model utilizes simple agents to represent innovating entities such as large corporations and small companies. The results produced by this model reveal the dynamics of innovation and its role in a global economy. The results indicate a large need for partnership in innovation for those entities working within rapidly changing domains. Domains, such as high technology, have constantly changing market expectations, which force innovating entities to seek external sources of assistance to meet these expectations in a timely enough fashion so as to incur benefit.
Engler, J. and Kusiak, A. (2011), "Modeling an Innovation Ecosystem with Adaptive Agents", International Journal of Innovation Science, Vol. 3 No. 2, pp. 55-68. https://doi.org/10.1260/1757-2126.96.36.199
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