Int. J. of Applied Mathematics, Computational Science and Systems Engineering

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Article

Customer Behavior in Trading Processes: A Simulation Based Approach

Author(s): Dominik Vymětal, Roman Šperka, Kateřina Slaninová

Abstract: The aim of this paper is to propose an innovative simulation approach involving customer behavior in the trading processes of a virtual company. Agent-based modeling and simulation techniques are used to implement a multi-agent system to serve as a simulation framework. Our motivation is to use the framework as a basic part of a management system, operating as an integrated component of a real system implemented within a company (e.g. ERP system) so as to investigate and to predict the chosen business metrics of a company. With such a system serving to enable the management of a company to support their decision-making processes. The paper firstly presents some of the existing theories on consumer behavior and the types of factors which influence it. Secondly, the paper characterizes the multi-agent model of a virtual company, the agents participating in the trading negotiation, and the decision-making function. The decision-making function is used to count the product price during the negotiation process. Lastly, the simulation results and their comparison with real data, and verification possibilities of the simulation model are described. It will be demonstrated, that the proposed approach to customer behavior in an agent-based simulation model could properly contribute to better a decision-making process.

Keywords: system modeling; multi-agent systems; agent negotiation; decision support; customer behavior

Pages: 86-91

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