The Order and Failure Estimation of Redundancy System Based on Cobweb Model

2017 ◽  
pp. 64-72
Author(s):  
Chao-Fan Xie ◽  
Lin Xu ◽  
Lu-Xiong Xu ◽  
Fuquan Zhang
Keyword(s):  
Cobweb Model

An Analysis of Abalone Over-Farming in China: Based on a Cobweb Model Under Restriction of Carrying Capacity

2019 ◽  
Vol 38 (2) ◽  
pp. 449
Author(s):  
Gang Zhou ◽  
Yongtong Mu ◽  
Zhuo Chen ◽  
Su Wang
Keyword(s):  
Carrying Capacity ◽  
Cobweb Model

scholarly journals Adverse Selection, Heterogeneous Beliefs, and Evolutionary Learning

2021 ◽  
Author(s):  
Clemens Buchen ◽  
Alberto Palermo
Keyword(s):  
Adverse Selection ◽  
Relative Size ◽  
Nonlinear Dynamic System ◽  
Heterogeneous Beliefs ◽  
Evolutionary Learning ◽  
Common Assumption ◽  
Cobweb Model ◽  
The Common ◽  
Learning Set ◽  
Set Up

AbstractWe relax the common assumption of homogeneous beliefs in principal-agent relationships with adverse selection. Principals are competitors in the product market and write contracts also on the base of an expected aggregate. The model is a version of a cobweb model. In an evolutionary learning set-up, which is imitative, principals can have different beliefs about the distribution of agents’ types in the population. The resulting nonlinear dynamic system is studied. Convergence to a uniform belief depends on the relative size of the bias in beliefs.

scholarly journals Cobweb Model with Buffer Stock for the Stabilization of Tomato Prices in Ghana

2012 ◽  
Vol 3 (1) ◽  
Author(s):  
Martin Anokye ◽  
Francis Tabi Oduro
Keyword(s):  
Buffer Stock ◽  
Cobweb Model

scholarly journals Further Investigations on the Dynamics and Multistability Coexisted in a Memory-Based Cobweb Model

Complexity ◽  
2021 ◽  
Vol 2021 ◽  
pp. 1-13
Author(s):  
S. S. Askar
Keyword(s):  
Fixed Point ◽  
Equilibrium Point ◽  
Profit Maximization ◽  
Period Doubling ◽  
Speed Of Adjustment ◽  
Discrete Dynamic ◽  
Cobweb Model ◽  
Numerical Studies ◽  
Market Clearing Price ◽  
The Stability

Based on a nonlinear demand function and a market-clearing price, a cobweb model is introduced in this paper. A gradient mechanism that depends on the marginal profit is adopted to form the 1D discrete dynamic cobweb map. Analytical studies show that the map possesses four fixed points and only one attains the profit maximization. The stability/instability conditions for this fixed point are calculated and numerically studied. The numerical studies provide some insights about the cobweb map and confirm that this fixed point can be destabilized due to period-doubling bifurcation. The second part of the paper discusses the memory factor on the stabilization of the map’s equilibrium point. A gradient mechanism that depends on the marginal profit in the past two time steps is adopted to incorporate memory in the model. Hence, a 2D discrete dynamic map is constructed. Through theoretical and numerical investigations, we show that the equilibrium point of the 2D map becomes unstable due to two types of bifurcations that are Neimark–Sacker and flip bifurcations. Furthermore, the influence of the speed of adjustment parameter on the map’s equilibrium is analyzed via numerical experiments.

Smart or stupid depends on who is your counterpart: a cobweb model with heterogeneous expectations

2019 ◽  
Vol 23 (5) ◽  
Author(s):  
Feng Guo ◽  
Chong Liu ◽  
Qingling Shi
Keyword(s):  
Heterogeneous Expectations ◽  
Cobweb Model

Abstract We investigate the dynamics of a cobweb model with heterogeneous expectations, generalizing the famous model of Brock and Hommes (Brock, W. A., and C. H. Hommes. 1997. “A Rational Route to Randomness.” Econometrica 65 (5): 1059–1095) by adding a new predictor – periodical expectation – which predicts that the price will revert to its level two periods previously. We show that under the periodical expectation, when the agents are homogeneous, they will always make wrong predictions, whereas when the agents are heterogeneous, they may be either smart or stupid depending on their counterparts’ types. Moreover, in the cobweb framework, the periodical predictor may be a destabilizer in some cases, but a stabilizer in other cases. We also find that in the cobweb model with rational, naive and periodical expectations, under certain refined conditions, the rational predictor may be endogenously dominated by naive and periodical predictors.

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