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Modeling Knowledge Development in an Economic Context

This research aims to simulate and understand the complex process of knowledge development within firms in an economic context. Using agent-based modeling techniques, the study investigates the relationship between knowledge development and coordination mechanisms, industry structure, and access to resources.

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Modeling Knowledge Development in an Economic Context

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  1. ABMS August 20 Modeling Knowledge Development in an Economic Context Rögnvaldur J. Sæmundsson

  2. Overview • Who am I? • Rationale – Why do this? • Research questions • Basic concepts/modules • Points to remember

  3. Rögnvaldur J. Sæmundsson • Associate prof. School of Business. • Electrical Engineering from UI. • Sleep Research Unit at Landspitalinn. • MS in Engineering from UI. • Director of Software Dev at Flaga. • PhD in Technology Man. from CTH. • Research on New Technology-Based Firms (NTBFs). • Emphasis on development of technical knowledge.

  4. Why simulate knowledge development? • Knowledge is central to innovation. • Innovation and economic development. • Knowledge development is complex... • ...and is difficult to handle empirically. • Simulation an exiting tool for research... • ...especially agent-based.

  5. What are we trying to accomplish? • Teach agent-based modeling techniques • Train you to deal with multilevel complexity • Intellectual challenge=fun • Building blocks for research • Simple ‘proof-of-principle’ models • answer basic questions/confirm stylized facts • Not ‘history friendly’ models • not to predict the future or explain the past

  6. Research questions • How is knowledge development in firms related to the coordination mechanisms used for organizing? • How is knowledge development in firms related to the structure of their industry? • How is knowledge development in firms related to access to resources in their industry?

  7. Knowledge development • Knowledge as skills = what you can do • Development = Changes in endowments • Speed and structure • Important dimensions: • Fields • Level • Important dynamics • Accumulation • Specialization and integration (inter and intra firm) • Constraints • Usefulness and cost

  8. Product market Factor market Firm Firm Individuals Individuals Individuals Individuals Individuals Individuals Basic modules Industry External knowledge generation

  9. Individuals • Employees • Carriers of knowledge • Have preferences • Take on different roles in the firm • Management • Operations • Research and Development (R&D)

  10. Firms • Governance structure – legal entity • Bus. opportunities - innovation/imitation • Bundle of resources • human, physical, financial • Operations and exchange • Administrative unit • direction • organization (coordination mechanisms)

  11. Industry • Group of firms that compete in the market • Competing products/services • Function • Value • Industry structure • Concentration (number, size) • Maturity - Innovation life cycle • Creative destruction

  12. Product market • Market for outputs (products and services) • Products and services • Utility/function • Price • Customers are agents (firms, consumers)

  13. Factor market • Market for inputs (resources) • Resources • Human (carriers of knowledge) • Physical (capacity) • Financial (means to obtain the other) • Will focus on human and financial • Resource owners are agents (firms, indiv.)

  14. External knowledge generation • Knowledge developed outside the industry • Universities • Research institutes • Other industries • Diffusion to the industry based on: • Knowledge seeking activities • Prior knowledge (absorptive capacity)

  15. Remember • Focus on knowledge development within an economic context. • Only the starting point is provided – the rest is up to you. • Aim for simplicity given the objective of the modeling (research questions). • Compare to ‘stylized facts’ • Question – embrace the challenge.

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