О стадном поведении в динамической модели замкнутого однотоварного рынка, участниками которого являются конечные автоматы.

Voronovitsky, Mark (2016): О стадном поведении в динамической модели замкнутого однотоварного рынка, участниками которого являются конечные автоматы. Forthcoming in: Economics and mathematical metods (RAS journal)

Abstract

We investigate the mechanisms of the herd behavior of participants in the in the closed model one commodity market. The herd behavior is a case of behavior when participants renounce from using of all own information and repeats the actions of majority of other participants of the collective. The rather modest problem of investigation of the herd behavior in the agent based model of a closed one commodity market, which was formulated and was investigated in our previous paper, is a object of this work. Two cases of choice by all agents of the same algorithm of definition of price was investigated in the previous paper . It was shown that in both cases trajectory of system after some time is in stationary set in which the average price of market hesitates close to its constant value. The possibility in the same model of the two other cases of herd behavior one of them is which induces the growth of the average price of market and other of them when herd behavior induces decreasing the average price of market it we have shown in this paper. . It is obviously from this investigation that herd behavior can occur on the finite interval of time..

• Item Type: MPRA Paper
• English Title: On the herd behavior in the dynamic model of closed one commodity market with finite automata as participants
• Language: Russian
• Keywords: Keywords: : model, closed market, herd behavior, go to a bear,go to a bull/ one commodity market, dynamics of prices, trajectory, stationary set, steady state, rational choice, finite automata.
• Subjects: C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C63 - Computational Techniques ; Simulation Modeling

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