Simulation cobweb model of price formation with delayed supply

The article presents a simulation cobweb model of price formation with delayed supply. It considers cases with absence and availability of random factors. Randomness is presented in the model as a concept of games with nature with the use of Markov chains. The article studies activity of the retail link in the described environment.

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Year of publication:	2013
Authors:	Nikolaevich, Yatsenko Roman ; Balykov Oleksiy G.
Published in:	The Problems of Economy. - ISSN 2222-0712. - 2013, 3, p. 352-358
Subject:	simulation modelling \| cobweb model of price formation \| games with nature \| Markov chains \| profit \| supply

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010855921