Price Competition with Particle Swarm Optimization: An Agent-Based Artificial Model

This study instructs an artificial price competition market to examine the impact of capacity constraints on the behavior of packers. Results show when there are cattle left for the lowest bidder after all other packers finishing their procurement, the capacity constraints make the price lower than the perfect competition level.


Issue Date:
2008
Publication Type:
Conference Paper/ Presentation
Record Identifier:
http://ageconsearch.umn.edu/record/6780
PURL Identifier:
http://purl.umn.edu/6780
Total Pages:
17
JEL Codes:
D43




 Record created 2017-04-01, last modified 2018-01-22

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