Price Competition with Particle Swarm Optimization: An Agent-Based Artificial Model
Zhang, Tong; Brorsen, B. Wade
2008

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Abstract

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.

Details

Title Price Competition with Particle Swarm Optimization: An Agent-Based Artificial Model
Keywords
Author(s) Zhang, Tong
Brorsen, B. Wade
Subject(s)
Issue Date 2008
Publication Type Conference Paper/ Presentation
DOI and Other Identifiers 10.22004/ag.econ.6780
Record Identifier https://ageconsearch.umn.edu/record/6780
PURL Identifier http://purl.umn.edu/6780
Language English
Total Pages 17
JEL Codes D43
Record Appears in Southern Agricultural Economics Association (SAEA) > 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas

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