- PII
- S042473880000616-6-1
- DOI
- 10.7868/S0000616-6-1
- Publication type
- Article
- Status
- Published
- Authors
- Volume/ Edition
- Volume 52 / Issue 2
- Pages
- 75-90
- Abstract
- The dynamic model of a closed market with one commodity, which is a combination of autonomous and interacting participants, is investigated in the paper. Closure of the market means that quantity of the commodity and amount of money on the market are constant at all the moments of time. Each partner in the market can be in one of the three statuses: а buyer, a seller and not a participant in trade at this moment of time. The interaction is carried out through trade. Partners in the market change their statuses and prices, using the personal information of each of them about trade in the previous moment of time only and trying to secure their partnership in trade at the next moment. The finite automata models the choice of risk degree in definition of new prices. So we study the closed market with one commodity as a system of interacting finite automata. We showed by the computer investigation the convergence of the average price of the market to a neighborhood of some his average value. We also investigated the role of volume of automata’s memory, which represent the participants of market, on the behavior of all our system.
- Keywords
- mathematical model, closed market, one commodity market, dynamics of prices, tra- jectory, stationary set, stationary state, finite automata
- Date of publication
- 01.04.2016
- Year of publication
- 2016
- Number of purchasers
- 1
- Views
- 1028
RAS Social ScienceЭкономика и математические методы Economics and the Mathematical Methods
- ISSN (Print) 0424-7388
- ISSN (Online) 3034-6177
THE DYNAMIC MODEL OF THE CLOSED MARKET WITH ONE COMMODITY AND FINITE LINEAR AUTOMATA AS PARTICIPANTS
Индексирование
Scopus
Crossref
Higher Attestation Commission
At the Ministry of Education and Science of the Russian Federation
Scientific Electronic Library