ON THE PRICE TRAJECTORY CONTROL OF A DISCRETE DYNAMIC PRODUCER-CONSUMER MARKET

Authors
SZIDAROVSZKY F MOLNAR S YEN J
Citation
F. Szidarovszky et al., ON THE PRICE TRAJECTORY CONTROL OF A DISCRETE DYNAMIC PRODUCER-CONSUMER MARKET, Applied mathematics and computation, 73(2-3), 1995, pp. 249-256
Citations number
5
Categorie Soggetti
Mathematics,Mathematics
Journal title
Applied mathematics and computation → ACNP
ISSN journal
00963003
Volume
73
Issue
2-3
Year of publication
1995
Pages
249 - 256
Database
ISI
SICI code
0096-3003(1995)73:2-3<249:OTPTCO>2.0.ZU;2-P
Abstract
The controllability of the price trajectory of dynamic producer-consum er markets is examined with discrete time scales. The basic model is a combination of Arrow's (1960) dynamic model and oligopolies. Sufficie nt and necessary trajectory controllability conditions are given under complete information, and static, adaptive, extrapolative expectation s by the producers on the market price. In each particular case these conditions can be interpreted as the price trajectory must not have la rge sudden decreases.