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The Agent-Based Model Of Regulation Of Retail Prices On The Market Of Petroleum Products

Author

Listed:
  • Leonid Galchynsky

    () (National Technical University of Ukraine)

  • Andrij Svydenko

    (National Technical University of Ukraine)

  • Iryna Veremenko

    (National Technical University of Ukraine)

Abstract

This 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.

Suggested Citation

  • Leonid Galchynsky & Andrij Svydenko & Iryna Veremenko, 2011. "The Agent-Based Model Of Regulation Of Retail Prices On The Market Of Petroleum Products," Polish Journal of Management Studies, Czestochowa Technical University, Department of Management, vol. 3(1), pages 136-147, May.
  • Handle: RePEc:pcz:journl:v:3:y:2011:i:1:p:136-147
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    More about this item

    Keywords

    petroleum products; market; oligopoly; game theory; agent-based model;

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • C00 - Mathematical and Quantitative Methods - - General - - - General

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