Computational Model Library

The dynamic agent-based model of market of single commodity and process of setting of prices (1.0.0)

The dynamic agent based model of system which turn out the self-adjusting system, are considered in this text. As a distinguish from usual microeconomic approach we characterise the choice of participant not by utility function but by algorithm of behavior(automaton) . Each participant uses only part of the all information i.e. he uses only information which is his own information. There two kinds of participants - sellers and buyers, each seller interacts with several buyers (and vice versa) and these interactions are a pair interactions. Nevertheless the system (model of market) for any initial condition reaches the steady state and this steady state is a equilibrium of this market.The fact that rather complex and large dynamic system really reach the state which is nearly equilibrium state at condition that nobody has all information and each participant has only small own information is surprisingly, by our opinion .

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The dynamic agent-based model of market of single commodity and process of setting of prices 1.0.0

The dynamic agent based model of system which turn out the self-adjusting system, are considered in this text. As a distinguish from usual microeconomic approach we characterise the choice of participant not by utility function but by algorithm of behavior(automaton) . Each participant uses only part of the all information i.e. he uses only information which is his own information. There two kinds of participants - sellers and buyers, each seller interacts with several buyers (and vice versa) and these interactions are a pair interactions. Nevertheless the system (model of market) for any initial condition reaches the steady state and this steady state is a equilibrium of this market.The fact that rather complex and large dynamic system really reach the state which is nearly equilibrium state at condition that nobody has all information and each participant has only small own information is surprisingly, by our opinion .

Version Submitter First published Last modified Status
1.0.0 Mark Voronovitsky Sat Jan 24 10:29:25 2009 Fri Feb 16 20:00:05 2018 Published

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