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Natural science models in management: Opportunities and challenges
Volume: 10, Issue 2
This paper sets out how models from natural science can be used within the management domain. We contend that this transformation between domains is best served by agent-based models, where the agent behavior is important, not the specifics of the agent type. We also note that these models are useful for exploring complexity and extending the research that has been performed within management to date. We demonstrate this with two models: the NK model, a theoretical biology model that has had 10 years of development within the strategy field, and the Forest Fire model, a model from physics that is at an early stage within its application within the management domain. In doing so, we also focus on the specific issues that need to be addressed when applying and extending these models to management studies due to the ontological differences between the realms of natural science and social science.

Agent-Based Models of a Banking Network as an Example of a Turbulent Environment
Volume: 5, Issue 2