Complex Adaptive Systems

Complex Adaptive Systems consists of A group of heterogenous agents. Bees in a hive, investors in a stock market, neurons in the brain and ants in a colony are some of the examples of agents. The agents interact with each other. These interactions create a structure called as emergence. The emerging structure behaves like a…

Should we trust experts?

Retailers have a lot of incentives to accurately predict holiday sales. Why? Low sales forecast will leave their shelves empty. This will result in lost profits. On the other hand excess sales forecast will result in unsold inventory. This will put pressure on the profit margins. In order to predict sales accurately the retailers depend…