ABSTRACT
Agent-based modeling (ABM) gives researchers the ability to model, at a natural level, large markets with many interacting components. The agents within ABM can exist at multiple levels, be heterogeneous in both properties and actions, and can even adapt their actions over time. This provides a powerful ability to represent real-world business phenomena at a rich level of detail. Within marketing, ABM has already been successfully used to model the di usion of information and adoption of products, but there are many other areas of interest to marketing researchers that could bene t from an ABM approach. For instance, retail location decisions, inter- rm relationships/strategy/competition, marketing mix models, and servicescape design could all bene t from being analyzed using ABM. In this chapter, we explore this method, potential future applications within marketing, and future research questions in the context of this methodology.
