NK modeling methodology in the strategy literature: Bounded search on a rugged landscape
We discuss recent methodological advances in the NK modeling in the Strategy literature and analyze issues related to its current use including different implementation algorithms, relative versus absolute performance, establishing significance of simulation results and long- versus short-term perfo...
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Published in | Research Methodology in Strategy and Management Vol. 5; pp. 237 - 268 |
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Main Authors | , |
Format | Book Chapter |
Language | English |
Published |
Emerald Group Publishing Limited
01.01.2009
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Online Access | Get full text |
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Summary: | We discuss recent methodological advances in the NK modeling in the Strategy literature and analyze issues related to its current use including different implementation algorithms, relative versus absolute performance, establishing significance of simulation results and long- versus short-term performance measurements. To facilitate cross-pollination of ideas, we point to advances and extensions of the model developed in other fields that could be effectively utilized to answer Strategy-related questions. These include modeling the strength of interaction, varying the importance of decision elements, utilizing alternative functional forms, incorporating endogeneity in N and K parameters and embedding the NK model in a broader dynamic framework. |
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ISBN: | 1848551584 9781848551589 |
ISSN: | 1479-8387 |
DOI: | 10.1108/S1479-8387(2009)0000005010 |