In this paper, we employ an agent-based industry simulation model to study the effects of the interplay between individual firms’ market evaluation strategies on the extent of product innovations and overall industry development. In particular, we show that a homogenous industry consisting of...

In this paper the evolution of bargaining behavior is studied under the assumption that individuals might choose between obstinate and responsive strategies. Following Ellingson (1997) it is assumed that obstinate agents commit to a certain demand, whereas responsive agents adapt optimally to...