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Cobweb theory, market stability, and price expectations

Poitras, Geoffrey - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014307131

Auction game of agro-product under cobweb phenomenon of supply and demand

Zimik, Chipem; Mishra, Prem Prakash - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015375457

A reappraisal of fundamentalists in a cobweb model with heterogeneous agents

Cavalli, Fausto; Naimzada, Ahmad; Pecora, Nicolò - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015593676

Asymptotic dynamics in a multi-market delayed cobweb model

Matsumoto, Akio; Szidarovszky, Ferenc - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015589986

Interacting cobweb demands

Pinna, Lorenzo; Ricchiuti, Giorgio - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015590003

Adverse selection, heterogeneous beliefs, and evolutionary learning

Buchen, Clemens; Palermo, Alberto - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013198688

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Adverse selection, heterogeneous beliefs, and evolutionary learning

Buchen, Clemens; Palermo, Alberto - 2021

Book / Working Paper

Production delays, supply distortions and endogenous price dynamics

Dieci, Roberto; Mignot, Sarah; Schmitt, Noemi; … - 2022

It takes time to produce commodities, and different production technologies may take different lengths of time. Suppose that firms may switch between different production technologies that take different lengths of time. A natural implication of such a scenario is that not all firms would then...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013365162

Rupture and continuity in the original divide between microdynamics and macrodynamics

Carret, Vincent - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013493176

When cobweb meets oligopoly

Zhang, Qianqian; Lin, Faqin; Wang, Xiuqing; Xin, Xian - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015072031

Beliefs asymmetry and price stability in a cobweb model

Berardi, Michele - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014228119

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Beliefs asymmetry and price stability in a cobweb model

Berardi, Michele - 2021

Book / Working Paper

The opposite effect of rational expectations and differentiated information costs for heterogeneous fundamentalists on the stability of an evolutive Muthian cobweb model

Naimzada, Ahmad; Pireddu, Marina - 2021

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012878287

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The Opposite Effect of Rational Expectations and Differentiated Information Costs for Heterogeneous Fundamentalists on the Stability of an Evolutive Muthian Cobweb Model

Naimzada, Ahmad; Pireddu, Marina - 2021

Book / Working Paper

Learning in a double-phase cobweb model

Cavalli, Fausto; Naimzada, Ahmad; Parisio, Lucia - 2021

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012794907

Production delays, technology choice and cyclical cobweb dynamics

Dieci, Roberto; Mignot, Sarah; Westerhoff, Frank H. - 2021

We develop a cobweb model in which firms, facing a two-period production delay, have access to a flexible (costly) and an inflexible (cheap) production technology. Moreover, firms select between production technologies depending on theirevolutionary fitness, measured in terms of past realized...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012795091

Communication and learning : the bilateral information transmission in the cobweb model

Guse, Eran; Wong, M. C. Sunny - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013380807

Application of the improved Cobweb model in China's new energy vehicle market

Yang, Ruining - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013348660

Application and stability analysis of Cobweb model with damping

Wang, Bo - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013348794

Production delays and price dynamics

Hommes, Cars H.; Li, Kai; Wagener, Florian Oskar Ottokar - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013191441

Production Delay and Belief Distributions in a Continuous-Time Cobweb Model

Hommes, Cars H. - 2017

This paper provides a unified analysis of the impacts of both production delay and agents' belief distributions on the aggregate price fluctuations in a general continuous-time cobweb model. We find that the time inconsistence between demand and supply due to production delay inherently...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012962879

Chaos in the cobweb model with a new learning dynamic

Waters, George - 2009

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10003844210

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Chaos in the Cobweb Model with a New Learning Dynamic

Waters, George - 2017

Book / Working Paper

Braided cobwebs : cautionary tales for dynamic retail pricing in end-to-end power systems

Thomas, Auswin George; Tesfatsion, Leigh - 2017 - Latest revision March 28, 2018

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011894118

A Cobweb Model with Alternating Demand and Supply Functions

Cavalli, Fausto - 2016

In this work I present a cobweb model for markets characterized by two couples of demand and supply functions which cyclically alternate with period two, in a succession of peak and off-peak market phases. Starting from classical adaptive expectations, a new expectation formation mechanism is...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012999481

Equilibrium stability in a nonlinear cobweb model

Evans, George W.; McGough, Bruce - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012509074

Eductive stability may not imply evolutionary stability in the presence of information costs

Naimzada, Ahmad; Pireddu, Marina - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012503647

Rational expectations (may) lead to complex dynamics in a Muthian cobweb model with heterogeneous agents

Naimzada, Ahmad; Pireddu, Marina - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012437540

Cobweb price dynamics under the presence of agricultural futures market : theoretical analysis

Vashishtha, Ashutosh - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012320332

Cobweb Theorem : PPP-Model in Cluster Innovation and European Benchmark

Uysal, Gürhan - 2015

This study explores cluster innovation, and it benchmarks Styria Model of Austria as model for cluster innovation. and it recommends a new model for clusteral innovation. This model is named as Cobweb Theorem. Styria model is a model for cluster formation, and it is a model for innovation in...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013027100

Managing rational routes to randomness

Schmitt, Noemi; Westerhoff, Frank H. - 2015

Within the seminal cobweb model of Brock and Hommes, firms adapt their price expectations by a profit-based switching behavior between free naïve expectations and costly rational expectations. Brock and Hommes demonstrate that fixed-point dynamics may turn into increasingly complex dynamics as...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010466325

The El Farol problem revisited

Böhm, Volker - 2015

The so-called El Farol problem describes a prototypical situation of interacting agents making binary choices to participate in a non-cooperative environment or to stay by themselves and choosing an outside option. In a much cited paper Arthur (1994) argues that persistent on-converging...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010487597

Cobweb diagram as a tool for assessing changes in the most important financial stability risks

Lielkalne, Olga; Siņenko, Nadežda - 2015

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011438252

Evolutionary competition and profit taxes : market stability versus tax burden

Schmitt, Noemi; Westerhoff, Frank H. - 2015

The seminal cobweb model by Brock and Hommes reveals that fixed-point dynamics may turn into increasingly complex dynamics as firms switch more quickly between competing expectation rules. While policy-makers may be able to manage such rational routes to randomness by imposing a proportional...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011317175

How Darwinian should an economy be?

Saint-Paul, Gilles - 2014

This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mechanism, by which more successful firms are replicated at a higher rate. The structure of the model allows to characterize analytically the aggregate dynamics, and to compute the effect on...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010440555

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How Darwinian should an economy be?

Saint-Paul, Gilles - 2014

Book / Working Paper

How Darwinian should an economy be?

Saint-Paul, Gilles - 2014

Book / Working Paper

How Darwinian Should an Economy Be?

Saint-Paul, Gilles - 2014

Book / Working Paper

Richard Goodwin's Keynesian Cobweb : Theme and Variations

Day, Richard Hollis; Pavlov, Oleg V. - 2014

Variations of Richard Goodwin's graphical model for explaining the rudiments of Keynes's real/monetary cycle theory are presented that can also be explicated graphically, but which possess more plausible dynamic properties, namely, the generic possibility of irregular, asymmetric fluctuations

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014118431

An examination of edgeworth price cycles in the Indianapolis retail gasoline market

Woods, Jeffrey G. - 2014

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010382698

The influence of the strength of financial institutions and the investment-production delay on commodity price cycles : a framed field experiment with coffee farmers in Colombia

Arango-Aramburo, Santiago; Acevedo, Yuliana; Sonnemans, Joep - 2019

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012373224

Smart or stupid depends on who is your counterpart : a cobweb model with heterogeneous expectations

Guo, Feng; Liu, Chong; Shi, Qingling - 2019

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012198413

A cobweb model with elements from prospect theory

Naimzada, Ahmad; Pecora, Nicolò; Tramontana, Fabio - 2019

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012054523

Positive welfare effects of trade barriers in a dynamic equilibrium model

Tuinstra, Jan; Wegener, Michael; Westerhoff, Frank H. - 2013

We develop a simple two-region, cobweb-type dynamic equilibrium model to demonstrate the existence of optimal trade barriers. A pure comparative statics analysis of our model suggests that a reduction of trade barriers always enhances welfare. However, taking a dynamic perspective reveals that...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010204785

Carl's nonlinear cobweb

Hommes, Cars H. - 2018

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011974124

Evolutionary competition and profit taxes : market stability versus tax burden

Schmitt, Noemi; Westerhoff, Frank H. - 2018

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012127568

Complex price dynamics in vertically linked cobweb markets

Chaudhry, Muhammad Imran; Miranda, Mario J. - 2018

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012100295

Cobweb Theorems with production lags and price forecasting

Dufresne, Daniel; Vázquez-Abad, Felisa J. - 2012

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10009565497

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Cobweb theorems with production lags and price forecasting

Dufresne, Daniel; Vázquez-Abad, Felisa - 2012

Book / Working Paper

Cobweb theorems with production lags and price forecasting

Dufresne, Daniel; Vázquez-Abad, Felisa - 2012

Book / Working Paper

The hog-cycle of law professors

Engel, Christoph; Hamann, Hanjo - 2012

The market for law professors fulfils the conditions for a hog cycle: in the short run, supply cannot be extended or limited; future law professors must be hired soon after they first present themselves, or leave the market; demand is inelastic. Using a comprehensive German dataset, we show that...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10009526029

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The hog-cycle of law professors

Engel, Christoph; Hamann, Hanjo - 2012

Book / Working Paper

Formation of rationally heterogeneous expectations

Pfajfar, Damjan - 2013

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10009775131

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Formation of Rationally Heterogeneous Expectations

Pfajfar, Damjan - 2012

Book / Working Paper

Cobweb Theorems with Production Lags and Price Forecasting

Dufresne, Daniel - 2012

The classical cobweb theorem is extended to include production lags and price forecasts. Price forecasting based on a longer period has a stabilizing effect on prices. Longer production lags do not necessarily lead to unstable prices; very long lags lead to cycles of constant amplitude. The...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013108007

Border collision bifurcations in boom and bust cycles

Kubin, Ingrid; Gardini, Laura - 2013

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10009792950

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Border collision bifurcations in boom and bust cycles

Kubin, Ingrid; Gardini, Laura - 2012

Book / Working Paper

Formation of heterogeneous expectations

Pfajfar, Damjan - 2012

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10009663574

Learning from the Expectations of Others

Granato, James S.; Guse, Eran; Wong, M. C. Sunny - 2012

The assumption of perfectly rational representative agents is now commonly questioned. This paper explores the equilibrium properties of boundedly rational heterogeneous agents. We combine an adaptive learning process in a modified cobweb model within a Stackleberg framework. We assume that...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014104846