market at the level of an individual member state or more broadly. We show that if we currently take the traditional approach … production, the market in each separate member state has still to be considered a separate market. However, if we allow for the … the conclusion should be that certain member states do not constitute a separate geographical market. This is in …

well as human traders. The paper first reviews the use of evolutionary and agent-based techniques of analyzing market … behaviors and market mechanisms, and economic models of learning, comparing genetic algorithms with reinforcement learning …-offs, using autonomous self-interested agents, mimics the bottom-up evolution of historical market mechanisms by trial and error …

positively correlated with the lagged price level in settings where market power is likely to be particularly strong (UK on … different degrees of market competition, as the evidence seems to suggest. Price fluctuations are modelled as the outcome of … dynamics in both sides of the market - demand and supply, which in turn respond to shocks to the underlying preference and …