Simulation cobweb model of price formation with delayed supply
Journal Title: Проблеми економіки - Year 2013, Vol 2013, Issue 3
Abstract
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.
Authors and Affiliations
Roman Yatsenko, Oleksiy Balykov
Keywords
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- EP ID EP110000
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