Cobweb Chaos in Agricultural Markets: Simulation Results
نویسندگان
چکیده
منابع مشابه
Cobweb Chaos in Agricultural Markets: Simulation Results
This study augments the traditional linear cobweb model with lower and upper bounds for variations of output. Its purpose is to detect the relationship between the output constraints and the dynamics of the modified model. Due to the upper and lower bounds, a transitional function takes on a tilted z-profile having three piecewise segments with two turning points. It prevents the price (or quan...
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SUMMARY Cobweb posets uniquely represented by directed acyclic graphs are such a generalization of the Fibonacci tree that allows joint combinatorial interpretation for all of them under admissibility condition. This interpretation was derived in the source papers ([6,7] and references therein to the first author).[7,6,8] include natural enquires to be reported on here. The purpose of this pres...
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The new learning dynamic of Brown, von Neuman and Nash (1950) is introduced to macroeconomic dynamics via the cobweb model with rational and naive forecasting strategies. This dynamic has appealing properties such as positive correlation and inventiveness. There is persistent heterogeneity in the forecasts and chaotic behavior with bifurcations between periodic orbits and strange attractors for...
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ژورنال
عنوان ژورنال: Studies in Regional Science
سال: 1995
ISSN: 0287-6256,1880-6465
DOI: 10.2457/srs.26.113