A self-organising model of market with single commodity

We have studied here the self-organising features of the dynamics of a mode l market, where the agents 'trade' for a single commodity with their money. The model market consists of fixed numbers of economic agents, money suppl y and commodity. We demonstrate that the model, apart from showing a self-o rganising behaviour, indicates a crucial role for the money supply in the m arket and also its self-organising behaviour is seen to be significantly af fected when the money supply becomes less than the optimum. We also observe d that this optimal money supply level of the market depends on the amount of 'frustration' or scarcity in the commodity market. (C) 2001 Elsevier Sci ence B.V. All rights reserved.