Agent-Based Modeling and Simulation for Business and Management: A Review and Tutorial

Bhakti Stephan Onggo, Joel Foramitti

Research output: Other contribution


Agent-based modeling and simulation (ABMS) has become one of the most popular simulation methods. It has been applied to a wide range of application areas including business and management. This article introduces ABMS and explains how it can support management decision making. It covers key concepts and the modeling process. AgentPy is used to show the software implementation of the concepts. This article also provides a literature review on ABMS in business and management research using bibliometric analysis and content analysis. It shows that there has been an increase in the research that uses ABMS and identifies several research clusters across management disciplines such as strategic management, marketing management, operations and supply chain management, financial management, and risk management.

Original languageEnglish
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781665433112
Publication statusPublished - 2021

Publication series

NameProceedings - Winter Simulation Conference
ISSN (Print)0891-7736


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