Modelling an imperfect market

Authors
Donangelo, R Hansen, A Sneppen, K Souza, SR
Citation
R. Donangelo et al., Modelling an imperfect market, PHYSICA A, 283(3-4), 2000, pp. 469-478
Citations number
16
Categorie Soggetti
Physics
Journal title
PHYSICA A
ISSN journal
03784371 → ACNP
Volume
283
Issue
3-4
Year of publication
2000
Pages
469 - 478
Database
ISI
SICI code
0378-4371(20000815)283:3-4<469:MAIM>2.0.ZU;2-C
Abstract
We propose a simple market model where agents trade different types of prod ucts with each other by using money, relying only on local information. Val ue fluctuations of single products, combined with the condition of maximum profit in transactions, readily lead to persistent fluctuations in the weal th of individual agents. (C) 2000 Elsevier Science B.V. All rights reserved .