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cobweb model - translation to russian
EXPLANATORY APPROACH FOR MARKET PRICE OSCILLATION IN MARKETS AROUND MARKET EQUILIBRIUM
Cobweb theory; Cobweb Cycle; Cobweb equation; Cobweb theorem; Cobweb cycles
.svg?width=200 "The ''convergent'' case: each new outcome is successively closer to the intersection of supply and demand.")
.svg?width=200 "The ''divergent'' case: each new outcome is successively further from the intersection of supply and demand.")
cobweb model
математика
паутинообразная модель
cobweb model
паутинообразная модель (цикла)
cobweb theorem
математика
теорема о паутине
Wikipedia
Cobweb model
The cobweb model or cobweb theory is an economic model that explains why prices might be subject to periodic fluctuations in certain types of markets. It describes cyclical supply and demand in a market where the amount produced must be chosen before prices are observed. Producers' expectations about prices are assumed to be based on observations of previous prices. Nicholas Kaldor analyzed the model in 1934, coining the term "cobweb theorem" (see Kaldor, 1938 and Pashigian, 2008), citing previous analyses in German by Henry Schultz and Umberto Ricci.
