Dynamics of Market Conditions with Continuous Delays in the
Journal Title: Бізнес Інформ - Year 2014, Vol 6, Issue 0
Abstract
In this paper we suggest a modification of the dynamic model of the interaction of market prices and volume of the goods in continuous time. Unlike classical postulates of Walras, Marshall and Samuelson the lag factor is formulated by means of integral relations on both the demand and the supply side. The different types of so-called \"dynamic memory \" integral components in the original mathematical model were considered, which produce a variety of effects accounting aftereffect. Particular attention is paid to the synthesis of a mathematical model of the entity under consideration as a second order differential equation driven to the form of the confluent hypergeometric differential equation. The analysis of behavioral properties of the investigated mathematical model was conducted with relevant graphic illustrations.
Authors and Affiliations
Anatolii Voronin, Olha Hunko
Keywords
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