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News of the Kabardino-Balkarian Scientific Center of the Russian Academy of Sciences, 2025 Volume 27, Issue 5, Pages 13–25 (Mi izkab953)

System analysis, management and information processing

Conceptual model of a multi-agent innovative investment system using neurocognitive architectures

A. A. Aigumova, I. A. Pshenokovaba

a Kabardino-Balkarian Scientific Center of the Russian Academy of Sciences, 2 Balkarov street, Nalchik, 360010, Russia
b Kabardino-Balkarian State University named after Kh.M. Berbekov, 173 Chernyshevsky street, Nalchik, 360004, Russia

Abstract: The relevance of this study stems from the need to develop effective tools for managing innovative investment processes in a highly uncertain market environment. Traditional research approaches, such as econometric modeling or system dynamics, often encounter difficulties in describing the adaptive behavior of agents and unpredictable collective effects. Therefore, there is a need for tools that allow for more realistic simulation of the behavior of investment market participants in all its complexity. Aim. The study is to develop and test a multi-agent model to evaluate the effectiveness of various innovative investment scenarios and identify optimal strategies for market participants. Methods. This paper uses simulation and multi-agent modeling as the primary research methods. Results. This article presents a multi-agent simulation model of an innovative investment system for analyzing interactions between investment market participants. Simulation experiments demonstrate that the developed model is able to replicate the dynamics of innovation system development, evaluate the effectiveness of various investment strategies, predict market participant behavior, and determine optimal parameters for interactions between agents. Conclusions. Future studies propose expanding the model to include a more detailed classification of investors and projects, integration with real data, and additional learning and collective investment mechanisms. The developed model can serve as a basis for creating practical decision-making tools for innovative investment and contribute to improving the efficiency of investment activities.

Keywords: simulation modeling, cognitive modeling, multi-agent model, innovative investing

UDC: 004.8

MSC: 68T42

Received: 12.07.2025
Revised: 15.08.2025
Accepted: 25.09.2025

DOI: 10.35330/1991-6639-2025-27-5-13-25



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