Innovation

Abstract

Abstract The fact that innovation is a prevalent topic in management science is not surprising, as the long-term survival of a company hinges on its capacity to generate new products or services on a regular basis and successfully introduce them into the market. In the past two decades, agent-based modelling (ABM) has become increasingly popular as a means of research in innovation management. This chapter provides a survey of recent works in this field, and it elaborates on promising features and applications for further research. It also advocates for strengthening the value of ABM to solve real-world problems, which should contribute to a further shift away from the original ‘toy models’ towards a well-established methodology that is able to suitably address the challenges arising from dealing with complex systems (e.g., markets and organizations). ABM in innovation management is moving in this direction; however, more research needs to be conducted.