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Динамическая Модель Замкнутого Однотоварного Рынка С Конечными Автоматами В Качестве Участников
[The dynamic model of the closed market with one commodity and with finite linear automata as participants]

Author

Listed:
  • Voronovitsky, Mark

Abstract

The dynamic model of closed market with one commodity, which is some combination of autonomous and interacting participants, is a goal of investigating of this paper. Closure of the market means that quantity of the commodity and amount of money on the market are constant in the all moments of time. Each partner of the market in the one moment of time can be in one of three status: to be buyer, be seller and do not take part in trade in this moment of time. The interaction is realized by the trade. Partners of market change their statuses and prices, by using the personal information of each of them about trade in the previous moment of time only and trying to secure their partnership in trade in the next moment. The finite automata model the choice of the degree of risk at definition of new prices by participants The finite automata model the choice of the degree of risk at definition of new prices by participants. So we study the closed market with one commodity as a system interacting finite automata. We showed by the computer investigation the convergence of the average price of the market to a neighborhood of some his average value. We investigated also the role of volume of automata's memory, which represent of the participants of market, in the behavior of all our system

Suggested Citation

  • Voronovitsky, Mark, 2015. "Динамическая Модель Замкнутого Однотоварного Рынка С Конечными Автоматами В Качестве Участников [The dynamic model of the closed market with one commodity and with finite linear automata as participants]," MPRA Paper 70460, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:70460
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    References listed on IDEAS

    as
    1. Topol, Richard, 1991. "Bubbles and Volatility of Stock Prices: Effect of Mimetic Contagion," Economic Journal, Royal Economic Society, vol. 101(407), pages 786-800, July.
    2. LeBaron, Blake & Arthur, W. Brian & Palmer, Richard, 1999. "Time series properties of an artificial stock market," Journal of Economic Dynamics and Control, Elsevier, vol. 23(9-10), pages 1487-1516, September.
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    JEL classification:

    • D49 - Microeconomics - - Market Structure, Pricing, and Design - - - Other

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