Demand function and its role in a business simulator

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F14%3A%230002696" target="_blank" >RIV/47813059:19520/14:#0002696 - isvavai.cz</a>
Result on the web
<a href="http://dx.doi.org/10.14505/jarm.v5.1(9).00" target="_blank" >http://dx.doi.org/10.14505/jarm.v5.1(9).00</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Demand function and its role in a business simulator
Original language description
Business simulations are useful tools due to the fact that it eases management decision making. No doubt there are many processes which must be considered and simulated. Therefore, such business simulator is often composed of many processes and containsmany agents and interrelations as well. Since the business simulator based on multi-agent system is characterized by many interrelations within, this article deals with a specific part of the business simulator only - a demand function and its modeling.The aim of this partial research is to suggest demand function which would be most suitable for the business simulation. In this paper a new approach for customer decision function in business process simulation was presented. The decision of the customer is based on Marshallian demand function and customer utility function using Cobb-Douglas preferences. The results obtained by means of the MAREA simulation environment proved that this approach yields correct simulation results.
Czech name
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Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
IN - Informatics
OECD FORD branch
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Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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