THE FIRM, PART OF THE ECONOMIC SYSTEM: REASONS FOR EXITING A MARKET - AN AGENT-BASED MODELING APPROACH

What are the reasons for which firms exit markets? In today's world the processes by which firms enter and exit markets are becoming more and more complex due to the fine networking system globalization and communication create at every level. To find and point out the reasons for which firms or their branches disappear off the market, we stylized and simplified market concepts and developed them in an agent-based model. Using NetLogo, we created an artificial market model where firms and their branches enter or exit the market, produce and sell goods and hire the people inhabiting this world.