Modeling Firm Search and Innovation Trajectory Using Swarm Intelligence
We developed a swarm intelligence-based model to study firm search across innovation topics. Firm search modeling has primarily been “firm-centric,” emphasizing the firm’s own prior performance. Fields interested in firm search behavior—strategic management, organization science, and economics—lack...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-01-01
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| Series: | Algorithms |
| Subjects: | |
| Online Access: | https://www.mdpi.com/1999-4893/16/2/72 |
| _version_ | 1797622854532988928 |
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| author | Ren-Raw Chen Cameron D. Miller Puay Khoon Toh |
| author_facet | Ren-Raw Chen Cameron D. Miller Puay Khoon Toh |
| author_sort | Ren-Raw Chen |
| collection | DOAJ |
| description | We developed a swarm intelligence-based model to study firm search across innovation topics. Firm search modeling has primarily been “firm-centric,” emphasizing the firm’s own prior performance. Fields interested in firm search behavior—strategic management, organization science, and economics—lack a suitable simulation model to incorporate a more robust set of influences, such as the influence of competitors. We developed a swarm intelligence-based simulation model to fill this gap. To demonstrate how to fit the model to real world data, we applied latent Dirichlet allocation to patent abstracts to derive a topic search space and then provide equations to calibrate the model’s parameters. We are the first to develop a swarm intelligence-based application to study firm search and innovation. The model and data methodology can be extended to address a number of questions related to firm search and competitive dynamics. |
| first_indexed | 2024-03-11T09:17:08Z |
| format | Article |
| id | doaj.art-8ff54d08c9a74701b7849984105d25e0 |
| institution | Directory Open Access Journal |
| issn | 1999-4893 |
| language | English |
| last_indexed | 2024-03-11T09:17:08Z |
| publishDate | 2023-01-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Algorithms |
| spelling | doaj.art-8ff54d08c9a74701b7849984105d25e02023-11-16T18:37:20ZengMDPI AGAlgorithms1999-48932023-01-011627210.3390/a16020072Modeling Firm Search and Innovation Trajectory Using Swarm IntelligenceRen-Raw Chen0Cameron D. Miller1Puay Khoon Toh2Gabelli School of Business, Fordham University, 45 Columbus Avenue, New York, NY 10019, USAMartin J. Whitman School of Management, Syracuse University, 721 University Avenue, Suite 500, Syracuse, NY 13244, USAMcCombs School of Business, University of Texas at Austin, 2110 Speedway, B6000, CBA 4.210, Austin, TX 78705, USAWe developed a swarm intelligence-based model to study firm search across innovation topics. Firm search modeling has primarily been “firm-centric,” emphasizing the firm’s own prior performance. Fields interested in firm search behavior—strategic management, organization science, and economics—lack a suitable simulation model to incorporate a more robust set of influences, such as the influence of competitors. We developed a swarm intelligence-based simulation model to fill this gap. To demonstrate how to fit the model to real world data, we applied latent Dirichlet allocation to patent abstracts to derive a topic search space and then provide equations to calibrate the model’s parameters. We are the first to develop a swarm intelligence-based application to study firm search and innovation. The model and data methodology can be extended to address a number of questions related to firm search and competitive dynamics.https://www.mdpi.com/1999-4893/16/2/72firm searchinnovationswarm intelligenceevolutionary economicspatent data |
| spellingShingle | Ren-Raw Chen Cameron D. Miller Puay Khoon Toh Modeling Firm Search and Innovation Trajectory Using Swarm Intelligence Algorithms firm search innovation swarm intelligence evolutionary economics patent data |
| title | Modeling Firm Search and Innovation Trajectory Using Swarm Intelligence |
| title_full | Modeling Firm Search and Innovation Trajectory Using Swarm Intelligence |
| title_fullStr | Modeling Firm Search and Innovation Trajectory Using Swarm Intelligence |
| title_full_unstemmed | Modeling Firm Search and Innovation Trajectory Using Swarm Intelligence |
| title_short | Modeling Firm Search and Innovation Trajectory Using Swarm Intelligence |
| title_sort | modeling firm search and innovation trajectory using swarm intelligence |
| topic | firm search innovation swarm intelligence evolutionary economics patent data |
| url | https://www.mdpi.com/1999-4893/16/2/72 |
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