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Dynamische Modellierung des Cournot Oligopols mit Methoden der Regelungstechnik
[Dynamic Modelling of the Cournot Oligopoly using Control Engineering Methods]

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  • Schüssler, Robert

Abstract

In the paper a dynamic model for the price formation process in a Cournot oligopoly market is provided. Model development is carried out using control engineering methods. At first, as common in control engineering the feedback structure of the Cournot market price mechanism is depicted as a block diagram. Then, this structure is enhanced by dynamic models reflecting an assumed time-delayed response behaviour of the market participants to changes in market price. This approach leads to a dynamic model for the Cournot oligolpolistic market which is self-evident and modularly expandable. The performance of the model is shown using simulation results for an oligopoly composed of three market participants. The simulation examples presented are related to differing response dynamics of the individual participants as well as to capacity limitations and alterations in market demand. The results show that control engineering methods can effectively be applied to dynamic modeling of economics processes as well. Im Beitrag wird ein dynamisches Modell für den Preisbildungsprozess in einem Cournot-Oligopol Markt vorgestellt. Die Modellbildung erfolgt mit ingenieur-wissenschaftlichen Methoden. Zunächst wird, wie in der Regelungstechnik üblich, die Rückkopplungsstruktur des Cournot-Preisbildungsmechanismus als Blockdiagramm dargestellt. Diese Struktur wird dann um dynamische Modelle erweitert, welche ein angenommenes, zeitlich verzögertes Reaktionsverhalten der Marktteilnehmer auf Marktpreisänderungen beschreiben. Auf diese Weise erhält man ein einfach verständliches und modular-erweiterbares dynamisches Modell des Cournot-Oligopol-Marktes. Die Leistungsfähigkeit des Modells wird anhand von Simulationsergebnissen für ein aus drei Marktteilnehmern bestehendes Oligopol veranschaulicht. Die vorgestellten Simulationsbeispiele beinhalten sowohl unterschiedliche Reaktionsdynamik der einzelnen Teilnehmer als auch Kapazitätsbeschränkungen und Änderungen der Marktnachfrage. Die Ergebnisse zeigen, dass Methoden der Regelungstechnik auch für die dynamische Modellierung ökonomischer Prozesse effektiv nutzbar sind.

Suggested Citation

  • Schüssler, Robert, 2015. "Dynamische Modellierung des Cournot Oligopols mit Methoden der Regelungstechnik
    [Dynamic Modelling of the Cournot Oligopoly using Control Engineering Methods]
    ," MPRA Paper 67526, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:67526
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    Keywords

    Dynamische Modellierung - Cournot-Oligopol - Industrieökonomik;

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General

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