Memory, market stability and attractors coexistence 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...
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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...
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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...
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reinsurance is widely recognized as an important instrument in the capital management of an insurance company as well as its risk management tool. this thesis is intended to determine premium rates for different types of reinsurance policies. also, given the fact that the reinsurance coverage of every company depends upon its reserves, so different types of reserves and the method of their calc...
A behavioral cobweb-like commodity market model with heterogeneous speculators
a r t i c l e i n f o According to empirical studies, speculators place significant orders in commodity markets and may cause bubbles and crashes. This paper develops a cobweb-like commodity market model that takes into account the behavior of technical and fundamental speculators. We show that interactions between consumers, producers and heterogeneous speculators may produce price dynamics wh...
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ژورنال
عنوان ژورنال: Journal of Difference Equations and Applications
سال: 2016
ISSN: 1023-6198,1563-5120
DOI: 10.1080/10236198.2016.1142540