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December 21, 2010



First of all, Merry X'mas!

1. Agent-based method (always with simulation tool, like Arena, Netlogo) is suitable for the complex system which consists of millions of irrational agents (people). It will be useful for performance evalution among multiple alternative decision schemes. However, our mathematical intelligence cannot be injected into the model.

2. I think the concept of "imperfect knowledge economics" is consistent with the emerging concept of "Behavioral Operations Research/Operations Management" (BOR/BOM) in the field of OR/OM.
We had a BOR/BOM workshop in Tsinghua University (Beijing,China) a couple of days ago. Welcome to the workshop next year.

PS: I add your blogsite into my blog as a external link, which makes my blog more informative. Your Chinese students are welcome to my blog (http://blog.sina.com.cn/duyuquan). Thank you.

Hi Yuquan,
Thanks a lot for the pointer on Behavioral Operations Management. For interested readers, the following paper is a good introduction to the topic. http://www.bschool.nus.edu.sg/staff/bizwyz/BOM_LochWu.pdf
Merry Christmas to you too and best wishes for 2011! I'm sure my Chinese students will be happy to visit your blog.

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