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Markov Chain Analysis and Prediction on the Fluctuation Cycle of Vegetable Price

In: Liss 2012

Author

Listed:
  • Xiaoxia Zhu

    (Hebei University of Science and Technology)

  • Xueling Liu

    (Bejing Aerospace Control Center)

  • Lichun Bao

    (Bejing Aerospace Control Center)

  • Xiuquan XU

    (Beijing Jiaotong University)

Abstract

In this paper, in order to solve the problems of heavy price fluctuations and unbalanced resource allocation in the vegetable wholesale market caused by huge daily demand and varied supply channels, we establish the predication model of Markov chain (MC), and a case just like the future price fluctuation interval and cycle of some kind of seasonal vegetable in Fushan area, the analysis and forecasting results indicate that the predication model of MC is a feasible technique to analyze the changing laws of something and forecasts its future trend with the basic principles and methods of MC. Meanwhile, the principle of economics that the commodity price fluctuates around the commodity value in the free market economy is confirmed from the mathematical point.

Suggested Citation

  • Xiaoxia Zhu & Xueling Liu & Lichun Bao & Xiuquan XU, 2013. "Markov Chain Analysis and Prediction on the Fluctuation Cycle of Vegetable Price," Springer Books, in: Zhenji Zhang & Runtong Zhang & Juliang Zhang (ed.), Liss 2012, edition 127, pages 1457-1463, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-32054-5_206
    DOI: 10.1007/978-3-642-32054-5_206
    as

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