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THE AGENT-BASED MODEL OF THE CLOSED MARKET WITH ONE COMMODITY
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THE AGENT-BASED MODEL OF THE CLOSED MARKET WITH ONE COMMODITY
Annotation
PII
S042473880000616-6-1
Publication type
Article
Status
Published
Authors
Mark Voronovitsky 
Edition
Volume 50 Issue 2
Pages
73-87
Abstract

The agent based model of the closed market (a market on which at each moment of time there is a same quantity of the goods and also the same quantity of money) is formulated. Participants of this market at each moment of time may be sellers or buyers of the commodity or not to participate in trade. Thus the following moment the buyer can become the seller or not participate in trade. The same concerns the sellers. Using only own information about the results of trade in the previous moment of time, participants of trade vary their statuses and appoint the new prices. The mathematical model of such market has been represented as the computer program. The basic properties of considered model of the closed market with one commodity was investigated with the help of the computer program.

Keywords
mathematical model, closed market, one commodity market, dynamics of prices, trajectory
Date of publication
01.04.2014
Number of purchasers
1
Views
787
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0.0 (0 votes)
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