Title :
Modeling Buyer–Seller Relations in a Closed System of Shared Resources, Incorporating Personal Preference and Trust
Author :
Petrou, Maria ; Giannoutakis, Konstantinos N.
Author_Institution :
Dept. of Electr. & Electron. Eng., Imperial Coll. London, London, UK
Abstract :
We propose a methodology with which one can model the interactions of agents in a digital business ecosystem. We assume that the system is closed and static and define a global cost function that may be used to identify the states of the system. The cost function is minimized with the help of the Langevin equation. We demonstrate the use of the proposed model with the help of simulated data.
Keywords :
corporate modelling; economics; Langevin equation; buyer-seller relations modeling; closed system; computational economics; digital business ecosystem; global cost function; trust; Computational modeling; Computer aided manufacturing; Cost function; Ecosystems; Equations; Fuel economy; Internet; Manufacturing systems; Mobile computing; Telephony; Buyer–seller relations; Langevin equation; Weber–Fechner law; computational economics; cyberspace community; digital business ecosystem (DBE); quantitative studies of DBE; trust;
Journal_Title :
Systems, Man and Cybernetics, Part A: Systems and Humans, IEEE Transactions on
DOI :
10.1109/TSMCA.2009.2025046