IDEAS home Printed from https://ideas.repec.org/p/pec/wpaper/2012-4.html
   My bibliography  Save this paper

Láthatóvá tehető-e a láthatatlan kéz? Egy ágens-alapú piaci modell tapasztalatai

Author

Listed:
  • Orsolya Hau-Horváth

    (UNIVERSITY OF PÉCS-FACULTY OF BUSINESS AND ECONOMICS)

  • Tamás Mellár

    (UNIVERSITY OF PÉCS-FACULTY OF BUSINESS AND ECONOMICS)

  • Tamás Sebestyén

    (UNIVERSITY OF PÉCS-FACULTY OF BUSINESS AND ECONOMICS)

Abstract

A közgazdaságtani gondolkodás hajlamos a piaci mechanizmusokat ab ovo egyensúlyi rendszereknek tekinteni, ahol az egyensúlyi állapot elérése legfeljebb idő kérdése. Ez a szemléletmód azonban néhány erős feltételezésen alapszik: (i) a láthatatlan kéz explicit megjelenése a walrasi árverező képében, amely a nem egyensúlyi tranzakciókat kizárja, (ii) a szereplők racionális viselkedése, (iii) az információáramlás tökéletessége. A makroszintű vizsgálatok ezen kívül nagymértékben építenek (iv) a szereplők homogenitásának feltevésére (reprezentatív szereplők), valamint (v) az ár- és mennyiségi alkalmazkodás szétválasztására. A valós piaci körülmények azonban rendszerint nem elégítik ki ezeket a feltételeket, így a piaci folyamatok stabilitása kérdéses. Tanulmányunkban egy ágens alapú modell kialakítása segítségével kíséreltünk meg választ adni arra a kérdésre, hogy ha a fenti feltételek nem teljesülnek, akkor a piaci folyamatok milyen dinamikát követnek. Egy egyszerű, alulról építkező modell segítségével elemeztük a piaci mikrostruktúrák illetve a döntési szabályok paramétereinek egyensúlyi folyamatokra gyakorolt hatását. Vizsgálataink során azt találtuk, hogy (i) a piaci szereplők száma akkor is lényeges befolyást gyakorol az alkalmazkodási folyamatra, ha azok homogének, (ii) az ár- és mennyiségi szabályozás aránya nem gyakorol jelentős hatást a piaci ár és mennyiség alakulására, (iii) az információáramlás kiterjesztése javítja a piaci alkalmazkodást, (iv) a heterogén szereplők bevezetése elsősorban a termelők esetén bír jelentőséggel.

Suggested Citation

  • Orsolya Hau-Horváth & Tamás Mellár & Tamás Sebestyén, 2012. "Láthatóvá tehető-e a láthatatlan kéz? Egy ágens-alapú piaci modell tapasztalatai," UPFBE Working Paper Series 2012/4, Faculty of Business and Economics, University Pécs.
    • Handle: RePEc:pec:wpaper:2012/4
    as

    Download full text from publisher

    File URL: https://journals.lib.pte.hu/index.php/workingpapers/article/view/5942/5667
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Giovanni Dosi & Giorgio Fagiolo & Andrea Roventini, 2009. "The microfoundations of business cycles: an evolutionary, multi-agent model," Springer Books, in: Uwe Cantner & Jean-Luc Gaffard & Lionel Nesta (ed.), Schumpeterian Perspectives on Innovation, Competition and Growth, pages 161-180, Springer.
    2. James Nicolaisen & Valentin Petrov & Leigh Tesfatsion, 2000. "Market Power and Efficiency in a Computational Electricity Market with Discriminatory Double-Auction Pricing," Computational Economics 0004005, University Library of Munich, Germany.
    3. Edoardo Gaffeo & Mauro Gallegati & Umberto Gostoli, 2015. "An agent-based “proof of principle” for Walrasian macroeconomic theory," Computational and Mathematical Organization Theory, Springer, vol. 21(2), pages 150-183, June.
    4. Tesfatsion, Leigh, 2001. "Structure, behavior, and market power in an evolutionary labor market with adaptive search," Journal of Economic Dynamics and Control, Elsevier, vol. 25(3-4), pages 419-457, March.
    5. Lengnick, Matthias, 2013. "Agent-based macroeconomics: A baseline model," Journal of Economic Behavior & Organization, Elsevier, vol. 86(C), pages 102-120.
    6. Tesfatsion, Leigh & Judd, Kenneth L., 2006. "Handbook of Computational Economics, Vol. 2: Agent-Based Computational Economics," Staff General Research Papers Archive 10368, Iowa State University, Department of Economics.
    7. Tesfatsion, Leigh, 2006. "Agent-Based Computational Economics: A Constructive Approach to Economic Theory," Handbook of Computational Economics, in: Leigh Tesfatsion & Kenneth L. Judd (ed.), Handbook of Computational Economics, edition 1, volume 2, chapter 16, pages 831-880, Elsevier.
    8. Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, vol. 12(3), pages 383-398, September.
    9. Lucas, Robert E, Jr, 1973. "Some International Evidence on Output-Inflation Tradeoffs," American Economic Review, American Economic Association, vol. 63(3), pages 326-334, June.
    10. Leigh Tesfatsion & Kenneth L. Judd (ed.), 2006. "Handbook of Computational Economics," Handbook of Computational Economics, Elsevier, edition 1, volume 2, number 2.
    11. Leijonhufvud, Axel, 2006. "Agent-Based Macro," Handbook of Computational Economics, in: Leigh Tesfatsion & Kenneth L. Judd (ed.), Handbook of Computational Economics, edition 1, volume 2, chapter 36, pages 1625-1637, Elsevier.
    12. repec:nbr:nberre:0126 is not listed on IDEAS
    13. W. Brian Arthur & Paul Tayler, "undated". "Asset Pricing Under Endogenous Expectations in an Artificial Stock Market," Computing in Economics and Finance 1997 57, Society for Computational Economics.
    14. Gian Italo Bischi & Carl Chiarella & Laura Gardini (ed.), 2010. "Nonlinear Dynamics in Economics, Finance and Social Sciences," Springer Books, Springer, number 978-3-642-04023-8, November.
    15. Fischer, Stanley, 1977. "Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule," Journal of Political Economy, University of Chicago Press, vol. 85(1), pages 191-205, February.
    16. Taylor, John B, 1980. "Aggregate Dynamics and Staggered Contracts," Journal of Political Economy, University of Chicago Press, vol. 88(1), pages 1-23, February.
    17. Rotemberg, Julio J, 1982. "Sticky Prices in the United States," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1187-1211, December.
    18. Oeffner, Marc, 2008. "Agent–Based Keynesian Macroeconomics - An Evolutionary Model Embedded in an Agent–Based Computer Simulation," MPRA Paper 18199, University Library of Munich, Germany, revised Oct 2009.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Váry, Miklós, 2015. "Piaci alkalmazkodás ragadós árak mellett - Calvo-típusú ármerevség egy ágensalapú modellben [Market adjustment under sticky prices: the price rigidity of a Calvo type in an agent-based model]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 48-77.
    2. Salle, Isabelle & Yıldızoğlu, Murat & Sénégas, Marc-Alexandre, 2013. "Inflation targeting in a learning economy: An ABM perspective," Economic Modelling, Elsevier, vol. 34(C), pages 114-128.
    3. Váry, Miklós, 2021. "The long-run real effects of monetary shocks: Lessons from a hybrid post-Keynesian-DSGE-agent-based menu cost model," Economic Modelling, Elsevier, vol. 105(C).
    4. N. Gregory Mankiw & Ricardo Reis, 2002. "Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1295-1328.
    5. Jaylson Jair da Silveira & Gilberto Tadeu Lima, 2007. "Regimes De Ajustamento Nominal Em Uma Macrodinâmica Evolucionária," Anais do XXXV Encontro Nacional de Economia [Proceedings of the 35th Brazilian Economics Meeting] 021, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    6. Oeffner, Marc, 2008. "Agent–Based Keynesian Macroeconomics - An Evolutionary Model Embedded in an Agent–Based Computer Simulation," MPRA Paper 18199, University Library of Munich, Germany, revised Oct 2009.
    7. Furtado, Bernardo Alves & Eberhardt, Isaque Daniel Rocha, 2015. "Modelo espacial simples da economia: uma proposta teórico-metodológica [A simple spatial economic model: a proposal]," MPRA Paper 67005, University Library of Munich, Germany.
    8. Bernardo A. Furtado & Miguel A. Fuentes & Claudio J. Tessone, 2019. "Policy Modeling and Applications: State-of-the-Art and Perspectives," Complexity, Hindawi, vol. 2019, pages 1-11, February.
    9. Robert G. King, 2000. "The new IS-LM model : language, logic, and limits," Economic Quarterly, Federal Reserve Bank of Richmond, issue Sum, pages 45-103.
    10. Lima, Gilberto Tadeu & da Silveira, Jaylson Jair, 2008. "Nominal Adjustment Regimes in an Evolutionary Macrodynamics," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 28(1), May.
    11. Thorvardur Tjörvi Ólafsson, 2006. "The New Keynesian Phillips Curve: In Search of Improvements and Adaptation to the Open Economy," Economics wp31_tjorvi, Department of Economics, Central bank of Iceland.
    12. Taylor, John B., 1999. "Staggered price and wage setting in macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 15, pages 1009-1050, Elsevier.
    13. Rotemberg, Julio J., 1996. "Prices, output, and hours: An empirical analysis based on a sticky price model," Journal of Monetary Economics, Elsevier, vol. 37(3), pages 505-533, June.
    14. Bhavesh Salunkhe & Anuradha Patnaik, 2019. "Inflation Dynamics and Monetary Policy in India: A New Keynesian Phillips Curve Perspective," South Asian Journal of Macroeconomics and Public Finance, , vol. 8(2), pages 144-179, December.
    15. Bernardo Alves Furtado & Isaque Daniel Rocha Eberhardt, 2016. "A Simple Agent-Based Spatial Model of the Economy: Tools for Policy," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 19(4), pages 1-12.
    16. Ashraf, Quamrul & Gershman, Boris & Howitt, Peter, 2017. "Banks, market organization, and macroeconomic performance: An agent-based computational analysis," Journal of Economic Behavior & Organization, Elsevier, vol. 135(C), pages 143-180.
    17. Fenintsoa Andriamasinoro & Raphael Danino-Perraud, 2021. "Use of artificial intelligence to assess mineral substance criticality in the French market: the example of cobalt," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 34(1), pages 19-37, April.
    18. Mankiw, N Gregory, 2001. "The Inexorable and Mysterious Tradeoff between Inflation and Unemployment," Economic Journal, Royal Economic Society, vol. 111(471), pages 45-61, May.
    19. Sensfuß, Frank & Ragwitz, Mario & Genoese, Massimo & Möst, Dominik, 2007. "Agent-based simulation of electricity markets: a literature review," Working Papers "Sustainability and Innovation" S5/2007, Fraunhofer Institute for Systems and Innovation Research (ISI).
    20. Tommaso Ciarli & André Lorentz & Marco Valente & Maria Savona, 2019. "Structural changes and growth regimes," Journal of Evolutionary Economics, Springer, vol. 29(1), pages 119-176, March.

    More about this item

    Keywords

    Ágens alapú modellezés; Piaci egyensúly; Korlátozott racionalitás; Nem tökéletes információk; Walrasi árverező.;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • C69 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Other
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D49 - Microeconomics - - Market Structure, Pricing, and Design - - - Other
    • D59 - Microeconomics - - General Equilibrium and Disequilibrium - - - Other
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pec:wpaper:2012/4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tamás Sebestyén (email available below). General contact details of provider: https://edirc.repec.org/data/feptehu.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.