A preliminary test of Hunt's General Theory of Competition: using artificial adaptive agents to study complex and ill-defined environments

Tay, Nicholas S. P.; Lusch, Robert F.

doi:10.1016/j.jbusres.2004.04.005

Cited by 31 publications

(6 citation statements)

References 16 publications

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“…It also potentially brings new methods to the table, from agent-based modeling to evolutionary computation (Beinhocker 2010;Lusch and Tay 2004). There has been some encouragement in economics and marketing to use complexity theory and computational science (Tesfatsion 2002;Rand and Rust 2011;Tay and Lusch 2005). These computational tools, when coupled with an S-D logic inspired model, can provide a new method for understanding and informing decisions and policies.…”

Section: Moving Forwardmentioning

confidence: 99%

Institutions and axioms: an extension and update of service-dominant logic

Vargo

Lusch

2015

J. of the Acad. Mark. Sci.

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2,601

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Service-dominant logic continues its evolution, facilitated by an active community of scholars throughout the world. Along its evolutionary path, there has been increased recognition of the need for a crisper and more precise delineation of the foundational premises and specification of the axioms of S-D logic. It also has become apparent that a limitation of the current foundational premises/axioms is the absence of a clearly articulated specification of the mechanisms of (often massive-scale) coordination and cooperation involved in the cocreation of value through markets and, more broadly, in society. This is especially important because markets are even more about cooperation than about the competition that is more frequently discussed. To alleviate this limitation and facilitate a better understanding of cooperation (and coordination), an eleventh foundational premise (fifth axiom) is introduced, focusing on the role of institutions and institutional arrangements in systems of value cocreation: service ecosystems. Literature on institutions across multiple social disciplines, including marketing, is briefly reviewed and offered as further support for this fifth axiom.

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Section: Moving Forwardmentioning

confidence: 99%

Institutions and axioms: an extension and update of service-dominant logic

Vargo

Lusch

2015

J. of the Acad. Mark. Sci.

Self Cite

2,601

2,867

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“…Hunt (2000) assimilated a spectrum of economic ideas in his General Theory of Competition (HGTC) and provided a powerful theoretical explanation of why policymakers should promote and protect unencumbered markets. Hunt's theory is widely accepted and applied (for example, Tay and Lusch (2005) use it to model complex oligopolistic markets). It provides a nuanced explanation of how competitive markets promote innovation and create value.…”

Section: Theoretical Basis For the Turn To The Market In Uk Policymentioning

confidence: 99%

Controversy and doxa: sustainable food policy and the English vegetable sector?

Moorhouse

Brennan

2021

JBIM

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Purpose The authors explore the market agora and the shaping of markets as controversies over the meaning and practices related to sustainability evolved. This study aims to explore what happened in a market-oriented policy regime, which aimed to address sustainability in farming and food, to assess the impact of the policy on the vegetable sector in England and to consider whether the market-oriented policy regime created a more sustainable food system for Britain. Design/methodology/approach The authors examined policy documents – agenda setting reports, policy frameworks and operational plans – and conducted interviews with experts – including policymakers, agronomists and the growers themselves, from across this heterogeneous production sector. Findings The authors found that while controversy over the meaning of sustainability impacted on the evolution of food policy and grower business practices, market conceptualisations remained in a doxic mode – naturalised and beyond dispute throughout the market agora. Research limitations/implications This is a study of a single sub-sector of the fruit and vegetable sector in a single European country and over a particular period of time. It presents a detailed, authentic representation of that sub-sector in context and diverse information sources were used to gain a variety of perspectives. However, it is acknowledged that this is a limited, qualitative study involving relatively few key informant interviews. Social implications The authors’ explanation suggests that market doxa limited how policymakers and market agora understood the economic challenges and the solutions that could be deployed for English vegetable growers, a sector so pivotal for sustainability. The authors propose that ideas from industrial marketing can be used to reignite controversy, challenge market doxa, and in doing so create space for progress in creating sustainable markets. Originality/value The authors deploy an approach advocated by Blanchet and Depeyre (2016) and use controversy to explore the evolution of policy for sustainability and market shaping in the English vegetable sector agora. In doing so the authors create a novel explanation of why policy, which aimed to usher in a sustainable market, fell short of its aims and contribute to an under-researched area examining policy for sustainability in a B2B context.

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“…His work motivated a generation of scholars to use computerized models, usually agent-based simulations, in studying social and economic phenomenon. One example of agentbased models in economics is the work of Tay and Lusch [22]. However, the validity of agent-based simulations is questioned by scholars like Leombruni and Richiardi [23] because of hardship of interpreting it, and parameterization.…”

Section: Agent-based Modeling and Simulationmentioning

confidence: 99%

Studying regulatory institutions competition and collaboration dynamics in network industries: Using agent-based modeling and simulation

Darabi

Mansouri

2013

2013 IEEE International Systems Conference (SysCon)

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In network industries a myriad of organizations compete and collaborate to deliver a product or service. More often than not the geographical extent of these networks places them under the influence of many various regulatory institutions. These institutions enforce rules and policies on network industries to further their own, and their shareholders' interests (citizens and companies of their sovereign entity).The aim of this paper is to highlight this effect and to study its impact on the performance of the overall system. The dichotomy between competition and collaboration is modeled using game theory. A small subset of the air transportation network is used for this case study. The model is limited to the route between New York City and London to eliminate the biasing effect of network externalities, where the utility of a product or service is dependent on the number of users of that product or service. The conceptual model, its preliminary results, and the implications of work are presented.

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A preliminary test of Hunt's General Theory of Competition: using artificial adaptive agents to study complex and ill-defined environments

Cited by 31 publications

References 16 publications

Institutions and axioms: an extension and update of service-dominant logic

Institutions and axioms: an extension and update of service-dominant logic

Controversy and doxa: sustainable food policy and the English vegetable sector?

Studying regulatory institutions competition and collaboration dynamics in network industries: Using agent-based modeling and simulation

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