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Modelling an Imperfect Market

Raul Donangelo·Alex Hansen·Kim Sneppen·Sergio R. Souza
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Abstract

We propose a simple market model where agents trade different types of products with each other by using money, relying only on local information. Value fluctuations of single products, combined with the condition of maximum profit in transactions, readily lead to persistent fluctuations in the wealth of individual agents.

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Raul Donangelo, Alex Hansen, Kim Sneppen, Sergio R. Souza. 2000-02-09. Modelling an Imperfect Market. https://doi.org/10.1016/s0378-4371(00)00177-1

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