Price Competition with Particle Swarm Optimization: An Agent-Based Artificial Model

This study instructs an artificial price competition market to examine the impact of capacity constraints on the behavior of packers. Results show when there are cattle left for the lowest bidder after all other packers finishing their procurement, the capacity constraints make the price lower than the perfect competition level.

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Year of publication:	2008
Authors:	Zhang, Tong ; Brorsen, B. Wade
Institutions:	Southern Agricultural Economics Association - SAEA
Subject:	fed cattle market \| agent-based model \| particle swarm optimization \| oligopsony \| Livestock Production/Industries \| Research Methods/ Statistical Methods

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Extent:	application/pdf
Series:	2008 Annual Meeting, February 2-6, 2008, Dallas, Texas.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas Number 6780
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005503440