Many agent-based models of financial markets have been able to reproduce certain stylized facts that are observed in actual empirical time series data by using “zero-intelligence” agents whose behaviour is largely random in order to ascertain whether certain phenomena arise from market microstructure as opposed to strategic behaviour. Although these models have been highly successful, it is not...

Institutional and market changes seem to force hospitals across the Western world to revitalize their corporate strategies towards more cost efficiency on the one hand, and more flexibility towards customer demands on the other hand. Hospitals, however, apparently differ in the extent to which they are able to implement such strategies effectively. This paper explores whether these different le...

a r t i c l e i n f o Keywords: Strategic marketing planning Industrial marketing Fuzzy cognitive map The relevance problem Design science Industrial marketing planning is a typical example of an unstructured decision making problem due to the large number of variables to consider and the uncertainty imposed on those variables. Although abundant studies identified barriers and facilitators of e...

Two decision-makers choose hawkish or dovish actions in a con‡ict game with incomplete information. The decision-making can be manipulated by “extremists” who send publicly observed cheaptalk messages. The power of extremists depends on the nature of the underlying con‡ict game. If actions are strategic complements, a “hawkish extremist” (provocateur) can increase the likelihood of con‡ict by s...

Product innovation within strategic alliances differs from product innovation within firms due to coordination problems with respect to decision making. This exploratory study, drawing on alliance research, strategic decisionmaking research and product innovation literature explains these problems at the level of product innovation projects in dyadic strategic alliances. In particular, the empi...