The Agent-Based Model Of Regulation Of Retail Prices On The Market Of Petroleum Products
AbstractThis article provides model of the retail gasoline market as multi-agent systems. The main factors, which affecting on the retail price of gasoline were determined. The authors found that using the agent approach, which takes into consideration the coalitions in the market, in particular, tacit collusion, it is possible to describe the behaviour of players correctly. An description of agent behaviour models and algorithms specific agent were done.
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Bibliographic InfoArticle provided by Czestochowa Technical University, Department of Management in its journal Polish Journal of Management Studies.
Volume (Year): 3 (2011)
Issue (Month): 1 (May)
petroleum products; market; oligopoly; game theory; agent-based model;
Find related papers by JEL classification:
- E00 - Macroeconomics and Monetary Economics - - General - - - General
- C00 - Mathematical and Quantitative Methods - - General - - - General
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