An Agent-Based Model of Entrepreneurial Behavior in Agri-Food Markets

Authored by R. Brent Ross, Randall E. Westgren

Date Published: 2009-12

Sponsors: No sponsors listed

Platforms: AnyLogic

Model Documentation: Other Narrative

Model Code URLs: Model code not found

Abstract

Rapid technological innovation and globalization have led to increasingly complex agri-food supply chains and networks, and uncertain agri-food markets. Given this type of competitive environment, management scholars have argued that agri-food firms that adopt capabilities for entrepreneurship will outperform firms that do not. We use agent-based simulation methods to explore this hypothesis. Agent-based models are particularly relevant in this study as they allow for the explicit simulation of the entrepreneurial behaviors and firm interactions that lead to wealth creation. In our analysis, we find that entrepreneurial capabilities of alertness, risk-taking, and efficiency vary in their effect on firm performance given alternative agri-food strategic landscape configurations.

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