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Computer Simulation of Competitive Market Response

Author

Listed:
  • Arnold E. Amstutz

Abstract

This book presents a comprehensive behavioral theory of market interactions and proposes an approach to policy management based on the use of microanalytic computer simulation. The author describes how simulation-based computer systems can provide realistic artificial environments in which managers evaluate historical strategies and examine the implications of proposed future marketing programs under various assumed competitive conditions. Management use of microanalytic simulations to assess the appropriateness of alternative solutions for a wide range of consumer and industrial marketing problems is also discussed. While other books have presented simulations of limited aspects of the marketing environment, Computer Simulation of Competitive Market Response presents complete models of consumer, distributor, retailer, and salesman behavior. Validated representations of key action and response processes including purchase decisions, response to media and word-of-mouth communication, brand image formation, and trade acceptance of new products are described. While adopting a managerial perspective, the author develops an interdisciplinary approach to problem formulation, synthetic and analytic procedures, and hypotheses regarding human behavior and interactions. His carefully structured approach to the fundamental problem of developing, testing, and validating complex models of human actions and responses makes this volume both comprehensible and valuable to researchers and practitioners from a variety of disciplines.

Suggested Citation

  • Arnold E. Amstutz, 1970. "Computer Simulation of Competitive Market Response," MIT Press Books, The MIT Press, edition 1, volume 1, number 026251009x, January.
  • Handle: RePEc:mtp:titles:026251009x
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    References listed on IDEAS

    as
    1. Roberto Chang & Andres Velasco, 1998. "Financial crises in emerging markets: a canonical model," FRB Atlanta Working Paper 98-10, Federal Reserve Bank of Atlanta.
    2. Charles Engel, 1999. "Accounting for U.S. Real Exchange Rate Changes," Journal of Political Economy, University of Chicago Press, vol. 107(3), pages 507-538, June.
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    4. Guillermo A. Calvo, 1998. "Capital Flows and Capital-Market Crises: The Simple Economics of Sudden Stops," Journal of Applied Economics, Universidad del CEMA, vol. 1, pages 35-54, November.
    5. Frankel, Jeffrey A. & Rose, Andrew K., 1996. "Currency crashes in emerging markets: An empirical treatment," Journal of International Economics, Elsevier, vol. 41(3-4), pages 351-366, November.
    6. Pierre-Olivier Gourinchas & Rodrigo Valdes & Oscar Landerretche, 2001. "Lending Booms: Latin America and the World," ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, vol. 0(Spring 20), pages 47-100, January.
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    9. Anne Krueger & Aaron Tornell, 1999. "The Role of Bank Restructuring in Recovering from Crises: Mexico 1995-98," NBER Working Papers 7042, National Bureau of Economic Research, Inc.
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    11. Jeffrey Brown, 2001. "Are the Elderly Really Over-Annuitized? New Evidence on Life Insurance and Bequests," NBER Chapters,in: Themes in the Economics of Aging, pages 91-126 National Bureau of Economic Research, Inc.
    12. Paul Krugman, 1999. "Balance Sheets, the Transfer Problem, and Financial Crises," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 6(4), pages 459-472, November.
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    14. Ratna Sahay & Deepak Mishra & Poonam Gupta, 2003. "Output Response to Currency Crises," IMF Working Papers 03/230, International Monetary Fund.
    15. Diamond, Douglas W. & Rajan, Raghuram G., 2001. "Banks, short-term debt and financial crises: theory, policy implications and applications," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 54(1), pages 37-71, June.
    16. Menzie D. Chinn & Kenneth M. Kletzer, 1999. "International capital inflows, domestic financial intermediation and financial crises under imperfect information," Proceedings, Federal Reserve Bank of San Francisco.
    17. Ber, Hedva & Blass, Asher & Yosha, Oved, 2002. "Monetary Policy in an Open Economy: The Differential Impact on Exporting and Non-Exporting Firms," CEPR Discussion Papers 3191, C.E.P.R. Discussion Papers.
    18. Bordo, Michael D. & Schwartz, Anna J., 2000. "Measuring real economic effects of bailouts: historical perspectives on how countries in financial distress have fared with and without bailouts," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 53(1), pages 81-167, December.
    19. Helpman, Elhanan, 1981. "An Exploration in the Theory of Exchange-Rate Regimes," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 865-890, October.
    20. Roberto Chang & Andres Velasco, 1998. "Financial Crises in Emerging Markets," NBER Working Papers 6606, National Bureau of Economic Research, Inc.
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    More about this item

    Keywords

    computer simulation; market interactions;

    JEL classification:

    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling

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