Advanced Search
MyIDEAS: Login

Logik des Marktes, Marktordnung, Marktverhalten und Marktergebnisse

Contents:

Author Info

  • Timm Gudehus

    ()

Registered author(s):

    Abstract

    This contribution shows how the outcome of dynamic markets can be derived, without the unrealistic assumptions of a perfect market, from the current rules of a market and the possible behaviour of the actors. An analysis of the observable rules for real-lifemarkets results in transfer equations and algorithms for the calculation of the individual purchasing prices and sales quantities.With distribution functions for offer and demand, which reflect the behaviour of the actors, the collective market outcome can be calculated, such as market price and sales, their variance and time dependency as well as the distribution effects of markets. The market laws, which result by simulation and probability theory, deviate in many respects from the statements of common price- and market-theories. The new approach enables to solve current problems, such as the market design for material and immaterial goods and finance products.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.wiso-net.de/webcgi?START=A60&DOKV_DB=ZECO&DOKV_NO=JFNS1548259B2BA28C26C95C38280AFB4F37&DOKV_HS=0&PP=1
    File Function: Main text
    Download Restriction: Access via GENIOS - German Business Information - http://www.genios.de/r_startseite/index.ein

    File URL: http://search.ebscohost.com/login.aspx?direct=true&db=ecn&AN=1152147&site=ehost-live
    File Function: Main text
    Download Restriction: Access via EBSCOhost Econlit - http://www.ebscohost.com/

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by Justus-Liebig University Giessen, Department of Statistics and Economics in its journal Journal of Economics and Statistics.

    Volume (Year): 230 (2010)
    Issue (Month): 5 (October)
    Pages: 601-629

    as in new window
    Handle: RePEc:jns:jbstat:v:230:y:2010:i:5:p:601-629

    Contact details of provider:
    Postal: Licher Straße 74, 35394 Gießen
    Phone: +49 (0)641 99 22 001
    Fax: +49 (0)641 99 22 009
    Web page: http://wiwi.uni-giessen.de/home/oekonometrie/Jahrbuecher/
    More information through EDIRC

    Related research

    Keywords: Market theory; market rules; market outcome; market prices; distribution effects; market laws; market simulation; market design;

    Find related papers by JEL classification:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Blake LeBaron & Peter Winker, 2008. "Introduction to the Special Issue on Agent-Based Models for Economic Policy Advice," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 228(2+3), pages 141-148, June.
    2. Rubinstein, Ariel & Wolinsky, Asher, 1985. "Equilibrium in a Market with Sequential Bargaining," Econometrica, Econometric Society, vol. 53(5), pages 1133-50, September.
    3. Frank H. Westerhoff, 2008. "The Use of Agent-Based Financial Market Models to Test the Effectiveness of Regulatory Policies," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 228(2+3), pages 195-227, June.
    4. John A. List, 2009. "The Economics of Open Air Markets," NBER Working Papers 15420, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:jns:jbstat:v:230:y:2010:i:5:p:601-629. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Winker).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.