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The Emergence of a Market: What Efforts Can Entrepreneurs Make?

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Natural Computing in Computational Finance

Part of the book series: Studies in Computational Intelligence ((SCI,volume 185))

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Summary

This chapter, using a complex adaptive systems (CAS) approach, models how entrepreneurs create markets for a new, disruptive, technology through an effectuation process. Starting from dispersed knowledge components held by both the demand and supply sides, a market emerges from the interactive learning behaviours of entrepreneurs and potential customers. The CAS approach enables investigation of both system-level emergence and the process of dynamic co-evolution at the individual level. The results indicate that the process of market creation is significantly impacted by factors including exploration tendency, alertness, and participant prior knowledge.

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Author information

Authors and Affiliations

  1. Department of Management Faculty of Business, AUT University, Auckland, New Zealand

    Shuyuan Wu

  2. Natural Computing Research and Applications Group, Complex & Adaptive Systems Laboratory, University College Dublin, Ireland

    Anthony Brabazon

  3. School of Business, University College Dublin, Dublin, Ireland

    Anthony Brabazon

Authors
  1. Shuyuan Wu
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  2. Anthony Brabazon
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Editor information

Editors and Affiliations

  1. University College Dublin, Belfield, Dublin, Ireland

    Anthony Brabazon  & Michael O’Neill  & 

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Wu, S., Brabazon, A. (2009). The Emergence of a Market: What Efforts Can Entrepreneurs Make?. In: Brabazon, A., O’Neill, M. (eds) Natural Computing in Computational Finance. Studies in Computational Intelligence, vol 185. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-95974-8_11

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  • DOI: https://doi.org/10.1007/978-3-540-95974-8_11

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-95973-1

  • Online ISBN: 978-3-540-95974-8

  • eBook Packages: EngineeringEngineering (R0)

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