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Simulation cobweb model of price formation with delayed supply

Author

Listed:
  • Yatsenko Roman Nikolaevich

    (Kharkiv National University of Economics)

  • Balykov Oleksiy G.

    (Kharkiv National University of Economics)

Abstract

The article presents a simulation cobweb model of price formation with delayed supply. It considers cases with absence and availability of random factors. Randomness is presented in the model as a concept of games with nature with the use of Markov chains. The article studies activity of the retail link in the described environment.

Suggested Citation

  • Yatsenko Roman Nikolaevich & Balykov Oleksiy G., 2013. "Simulation cobweb model of price formation with delayed supply," The Problems of Economy, RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE), issue 3, pages 352-358.
    • Handle: RePEc:idp:redpoe:y:2013:i:3:p:352_358
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