The impact of information systems on organizations and markets
Communications of the ACM
Electronic markets and electronic hierarchies
Communications of the ACM
Introduction to Reinforcement Learning
Introduction to Reinforcement Learning
Prisoner's Dilemma
Guest editorial agent-based modeling of evolutionary economic systems
IEEE Transactions on Evolutionary Computation
An agent-based approach for e-manufacturing and supply chain integration
Computers and Industrial Engineering - Special issue: Logistics and supply chain management
Computers and Operations Research
Application of complex adaptive systems to pricing of reproducible information goods
Decision Support Systems
Application of an integrated decision support process for supplier selection
Enterprise Information Systems
Understanding the wikipedia phenomenon: a case for agent based modeling
Proceedings of the 2nd PhD workshop on Information and knowledge management
Computers and Industrial Engineering
A multi-agent systems model for rolling system based on Petri nets
CAR'10 Proceedings of the 2nd international Asia conference on Informatics in control, automation and robotics - Volume 2
A multi-agent system for adaptive production networks
MABS'09 Proceedings of the 10th international conference on Multi-agent-based simulation
Supplier behavior modeling and winner determination using parallel MDP
Expert Systems with Applications: An International Journal
Diffusion dynamics of open source software: An agent-based computational economics (ACE) approach
Decision Support Systems
Operational causes of bankruptcy propagation in supply chain
Decision Support Systems
Artificial intelligence for decision making
KES'06 Proceedings of the 10th international conference on Knowledge-Based Intelligent Information and Engineering Systems - Volume Part II
A multi-agent system using iterative bidding mechanism to enhance manufacturing agility
Expert Systems with Applications: An International Journal
Expert Systems with Applications: An International Journal
A fuzzy-Bayesian model for supplier selection
Expert Systems with Applications: An International Journal
Agent learning in autonomic manufacturing execution systems for enterprise networking
Computers and Industrial Engineering
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We use agent-based modeling to study the performance of a supplier selection model, originally proposed by Croson and Jacobides [Small Numbers Outsourcing: Efficient Procurement Mechanisms in a Repeated Agency Model, Working Paper #99- 05-04 Department of Operations and Information Management, The Wharton School of the University of Pennsylvania (1999)], which displays a complicated reward and punishment profile under incomplete information. We document the dynamics and convergence to equilibrium of the interactions of a single buyer with a heterogeneous group of sellers, which results in both separation of sellers capable of producing high-quality goods from those incapable of doing so, and continuing incentives for high-quality-capable sellers to produce at the maximum quality possible. We model two methods of determining exploration reference points--an "auction-style" model focusing on probability of success and a "newsvendor-style" model focusing on profitability. Our simulation shows that (1) the tournament structure suffices to reach convergence at high-quality levels whenever the number of suppliers exceeds three, (2) punishment length and number of suppliers are substitutes, and (3) shorter punishments improve learning speed of convergence. Moreover, we show that it is strictly better for the buyer to transact with relatively few suppliers--a conclusion generated endogenously inside the model as a tradeoff between exploration and exploitation, rather than through assumptions that explicitly penalize supplier proliferation.