umu.sePublikationer
Ändra sökning
RefereraExporteraLänk till posten
Permanent länk

Direktlänk
Referera
Referensformat
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Annat format
Fler format
Språk
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Annat språk
Fler språk
Utmatningsformat
  • html
  • text
  • asciidoc
  • rtf
Dynamics of a durable commodity market involving trade at disequilibrium
Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för regionalvetenskap (CERUM).
2018 (Engelska)Ingår i: Communications in nonlinear science & numerical simulation, ISSN 1007-5704, E-ISSN 1878-7274, Vol. 58, s. 2-14Artikel i tidskrift (Refereegranskat) Published
Abstract [en]

The present work considers a simple model of a durable commodity market involving two agents who trade stocks of two different types. Stock commodities, in contrast to flow commodities, remain on the market from period to period and, consequently, there is neither unique demand function nor unique supply function exists. We also set up exact conditions for trade at disequilibrium, the issue being usually neglected, though a fact of reality. The induced iterative system has infinite number of fixed points and path dependent dynamics. We show that a typical orbit is either attracted to one of the fixed points or eventually sticks at a no-trade point. For the latter the stock distribution always remains the same while the price displays periodic or chaotic oscillations. (C) 2017 Elsevier B.V. All rights reserved.

Ort, förlag, år, upplaga, sidor
ELSEVIER SCIENCE BV , 2018. Vol. 58, s. 2-14
Nyckelord [en]
Durable commodity markets, Disequilibrium trade, Path dependence, Piecewise smooth systems
Nationell ämneskategori
Nationalekonomi
Identifikatorer
URN: urn:nbn:se:umu:diva-150719DOI: 10.1016/j.cnsns.2017.08.003ISI: 000416034300002Scopus ID: 2-s2.0-85028330597OAI: oai:DiVA.org:umu-150719DiVA, id: diva2:1239249
Konferens
International Workshops on Dynamic Models in Economics and Finance (MDEF), JUN 23-25, 2016, Urbino, ITALY
Tillgänglig från: 2018-08-16 Skapad: 2018-08-16 Senast uppdaterad: 2018-08-16Bibliografiskt granskad

Open Access i DiVA

Fulltext saknas i DiVA

Övriga länkar

Förlagets fulltextScopus

Personposter BETA

Puu, Tönu

Sök vidare i DiVA

Av författaren/redaktören
Puu, Tönu
Av organisationen
Centrum för regionalvetenskap (CERUM)
I samma tidskrift
Communications in nonlinear science & numerical simulation
Nationalekonomi

Sök vidare utanför DiVA

GoogleGoogle Scholar

doi
urn-nbn

Altmetricpoäng

doi
urn-nbn
Totalt: 50 träffar
RefereraExporteraLänk till posten
Permanent länk

Direktlänk
Referera
Referensformat
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Annat format
Fler format
Språk
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Annat språk
Fler språk
Utmatningsformat
  • html
  • text
  • asciidoc
  • rtf