| Abstract: | A number of simulation techniques may be applied to strategy and decision-making. In using such techniques it is important to understand the role of models, in the context of the wider decision-making process which is largely a communal and political process; the choice of a particular approach or technique depends not only on the type of decision being considered, but also on the stage of the decision-making process (which in turn affects the type of problem under consideration).Models which take into account the dynamics of a system can give insight into possible outcomes and indications of unintended consequences. Such models may not necessarily reproduce all aspects of a complex adaptive system; there is a continuum of modelling techniques, ranging from static equilibrium models through to agent-based approaches which can incorporate evolution and learning. The trade-offs between alternative approaches is discussed. |
