Equilibrium stability in a nonlinear cobweb model
نویسندگان
چکیده
منابع مشابه
Stability analysis of a cobweb model with market interactions
This paper explores the steady-state properties and the dynamic behavior of a generalization of the classical cobweb model. Under fairly general demand and cost functions, producers form naïve expectations about future prices and select their output so as to maximize expected profits. Unlike the traditional setup, producers have the choice between two markets, and tend to enter that which was m...
متن کاملA Stochastic Cobweb Dynamical Model
We consider the dynamics of a stochastic cobweb model with linear demand and a backwardbending supply curve. In our model, forward-looking expectations and backward-looking ones are assumed, in fact we assume that the representative agent chooses the backward predictor with probability q , 0 q 1, and the forward predictor with probability 1 − q , so that the expected price at time t is a random...
متن کاملan application of equilibrium model for crude oil tanker ships insurance futures in iran
با توجه به تحریم های بین المملی علیه صنعت بیمه ایران امکان استفاده از بازارهای بین المملی بیمه ای برای نفتکش های ایرانی وجود ندارد. از طرفی از آنجایی که یکی از نوآوری های اخیر استفاده از بازارهای مالی به منظور ریسک های فاجعه آمیز می باشد. از اینرو در این پایان نامه سعی شده است با استفاده از این نوآوری ها با طراحی اوراق اختیارات راهی نو جهت بیمه گردن نفت کش های ایرانی ارائه نمود. از آنجایی که بر...
Research Article Complex Dynamics in a Nonlinear Cobweb Model for Real Estate Market
We establish a nonlinear real estate model based on cobweb theory, where the demand function and supply function are quadratic. The stability conditions of the equilibrium are discussed. We demonstrate that as some parameters varied, the stability of Nash equilibrium is lost through period-doubling bifurcation. The chaotic features are justified numerically via computing maximal Lyapunov expone...
متن کاملStability in a Nonlinear Population Maturation Model
We consider models for population structured by maturation/maturation speed proposed by Rotenberg. It is a variant of transport equations for age-structured populations which presents particularly interesting mathematical difficulties. It allows one to introduce more stochasticity in the birth process and in the aging phenomena. We present a new method for studying the time asymptotics which is...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Economics Letters
سال: 2020
ISSN: 0165-1765
DOI: 10.1016/j.econlet.2020.109130