NK modeling methodology in the strategy literature: Bounded search on a rugged landscape

Martin Ganco, Glenn Hoetker

Research output: Contribution to journalArticle

48 Scopus citations

Abstract

We discuss recent methodological advances in the NK modeling in the Strategy literature and analyze issues related to its current use including different implementation algorithms, relative versus absolute performance, establishing significance of simulation results and long- versus short-term performance measurements. To facilitate cross-pollination of ideas, we point to advances and extensions of the model developed in other fields that could be effectively utilized to answer Strategy-related questions. These include modeling the strength of interaction, varying the importance of decision elements, utilizing alternative functional forms, incorporating endogeneity in N and K parameters and embedding the NK model in a broader dynamic framework.

Original languageEnglish (US)
Pages (from-to)237-268
Number of pages32
JournalResearch Methodology in Strategy and Management
Volume5
DOIs
StatePublished - Dec 1 2009

ASJC Scopus subject areas

  • Strategy and Management

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