Organisms, Individuals and Organizations face the dilemma of exploration vs. exploitation
Identifying the optimal trade-off between the two is a challenge
Too much exploration (e.g. gaining new knowledge) can be detrimental to day-to-day survival and too much exploitation (applying existing knowledge) could be detrimental to long term survival esp. if conditions change over time

The purpose of the model is to investigate how the amount of resources acquired (wealth/success) is related to persistence with the strategy of local exploration under different resource distributions, availability of resources over time and cost of relocation

An economic agent-based model of Coupled Housing and Land Markets (CHALMS) simulates the location choices, insurance purchasing decisions, and risk perceptions of coastal residents, and how coastal risks are capitalized (or not) into coastal housing and land markets.

We develop a spatial, evolutionary model of the endogenous formation and dissolution of groups using a renewable common pool resource. We use this foundation to measure the evolutionary pressures at different organizational levels.

This model introduces individual bias to the model of exploration and exploitation, simulates knowledge diffusion within organizations, aiming to investigate the effect of individual bias and other related factors on organizational objectivity.

This model uses ’satisficing’ as a model for farmers’ decision making to learn about influences of alternative decision-making models on simulation results and to exemplify a way to transform a rather theoretical concept into a feasible decision-making model for agent-based farming models.

This generic model simulates climate change adaptation in the form of resistance, accommodation, and retreat in coastal regions vulnerable to sea level rise and flooding. It tracks how population changes as households retreat to higher ground.

Next generation of the CHALMS model applied to a coastal setting to investigate the effects of subjective risk perception and salience decision-making on adaptive behavior by residents.

This model simulates a foraging system based on Middle Stone Age plant and shellfish foraging in South Africa.

The basic premise of the model is to simulate several ‘agents’ going through build-buy cycles: Build: Factories follow simple rules of strategy in the allocation of resources between making exploration and exploitation type products. Buy: Each of two types of Consumers, early-adopters and late adopters, follow simple purchase decision rules in deciding to purchase a product from one of two randomly chosen factories. Thus, the two working ‘agents’ of the model are ‘factories’ and […]

This model investigates the link between prescribed growth in body size, population dynamics and density dependence through population feedback on available resources.