Analysis of Price Equilibriums in the Aspen Economic Model under Various Purchasing Methods
- Sandia National Laboratories
Aspen, a powerful economic modeling tool that uses agent modeling and genetic algorithms, can accurately simulate the economy. In it, individuals are hired by firms to produce a good that households then purchase. The firms decide what price to charge for this good, and based on that price, the households determine which firm to purchase from. We will attempt to discover the Nash Equilibrium price found in this model under two different methods of determining how many orders each firm receives. To keep it simple, we will assume there are only two firms in our model, and that these firms compete for the sale of one identical good.
- Research Organization:
- Sandia National Labs., Albuquerque, NM (US); Sandia National Labs., Livermore, CA (US)
- Sponsoring Organization:
- US Department of Energy (US)
- DOE Contract Number:
- AC04-94AL85000
- OSTI ID:
- 805866
- Report Number(s):
- SAND2002-3693
- Country of Publication:
- United States
- Language:
- English
Similar Records
Market disruption, cascading effects, and economic recovery:a life-cycle hypothesis model.
Full employment and competition in the Aspen economic model: implications for modeling acts of terrorism.
Gasoline prices and purchases of new automobiles
Technical Report
·
2004
·
OSTI ID:903421
Full employment and competition in the Aspen economic model: implications for modeling acts of terrorism.
Technical Report
·
2004
·
OSTI ID:903422
Gasoline prices and purchases of new automobiles
Journal Article
·
1980
· South. Econ. J.; (United States)
·
OSTI ID:5142047