Model of the commodity market with information about price trends: limiting cases

Authors

  • Boris S. Kalitine Belarusian State University, 4 Niezaliežnasci Avenue, Minsk 220030, Belarus
  • Natalia V. Novikova Belarusian State University, 4 Niezaliežnasci Avenue, Minsk 220030, Belarus

Keywords:

linear discrete model of supply and demand, economic equilibrium

Abstract

A discrete market model with given supply and demand functions is considered, provided that the behaviour of producers and consumers can be based on information about the tendency of prices of goods or services. The conditions concerning the parameters of the model, under which an economic equilibrium exists and is unique, are derived.

Author Biographies

  • Boris S. Kalitine, Belarusian State University, 4 Niezaliežnasci Avenue, Minsk 220030, Belarus

    PhD (physics and mathematics), docent; professor at the department of analytical economics and econometrics, faculty of economics

  • Natalia V. Novikova, Belarusian State University, 4 Niezaliežnasci Avenue, Minsk 220030, Belarus

    senior lecturer at the department of analytical economics and econometrics, faculty of economics

References

  1. Kalitine BS, Novikova NV. [Model of commodity market with functions of demand and supply]. In: Kravtsov MK, editor. Ekonomika, modelirovanie, prognozirovanie. Vypusk 13 [Economics, modeling, forecasting. Issue 13]. Minsk: The Economy Research Institut of the Ministry of Economy of the Republic of Belarus; 2019. p. 163–170. Russian.
  2. Kalitine BS, Novikova NV. [Model of the commodity market with passive reaction to price growth]. In: Kravtsov MK, editor. Ekonomika, modelirovanie, prognozirovanie. Vypusk 15 [Economics, modeling, forecasting. Issue 15]. Minsk: The Economy Research Institut of the Ministry of Economy of the Republic of Belarus; 2021. p. 159–164. Russian.
  3. Gandolfo G. First-order difference equation in economic models. In: Gandolfo G. Economic dynamics. North-Holland: Springer; 2010. p. 37–54.
  4. Kalitine BS. [Once again about the spider-like model of the market]. In: Chervyakov AV, editor. Problemy prognozirovaniya i gosudarstvennogo regulirovaniya sotsial’no-ekonomicheskogo razvitiya. Materialy XIV Mezhdunarodnoi nauchnoi konferentsii; 24–25 oktyabrya 2013 g.; Minsk, Belarus’. Tom 3 [Problems of forecasting and state regulation of socio-economic development. Pro¬ceedings of the 14th International scientific conference; 2013 October 24–25; Minsk, Belarus. Volume 3]. Minsk: The Economy Research Institut of the Ministry of Economy of the Republic of Belarus; 2013. p. 198–200. Russian.

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Published

2022-11-08

Issue

No. 2 (2022): Journal of the Belarusian State University. Economics

Section

C. Mathematical and Quantitative Methods

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How to Cite

[1]
Kalitine, B.S. and Novikova, N.V. 2022. Model of the commodity market with information about price trends: limiting cases. Journal of the Belarusian State University. Economics. 2 (Nov. 2022), 30–36.