Price Competition with Particle Swarm Optimization: An Agent-Based Artificial Model
AbstractThis study instructs an artificial price competition market to examine the impact of capacity constraints on the behavior of packers. Results show when there are cattle left for the lowest bidder after all other packers finishing their procurement, the capacity constraints make the price lower than the perfect competition level.
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Bibliographic InfoPaper provided by Southern Agricultural Economics Association in its series 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas with number 6780.
Date of creation: 2008
Date of revision:
fed cattle market; agent-based model; particle swarm optimization; oligopsony; Livestock Production/Industries; Research Methods/ Statistical Methods; D43;
Find related papers by JEL classification:
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-12-14 (All new papers)
- NEP-CMP-2008-12-14 (Computational Economics)
- NEP-COM-2008-12-14 (Industrial Competition)
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.:
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