Research on Dynamic Game Model and Application of China’s Imported Soybean Price in the Context of China-US Economic and Trade Friction

Yi Wang, Hui Wang and Shubing Guo

Complexity, 2019, vol. 2019, 1-13

Abstract:

China’s soybean price fluctuates due to the current economic and trade frictions between China and the United States. Brazil and the United States are regarded as two oligarchs in China’s soybean import market. A dynamic price game model is established, and price elasticity parameters are estimated by using statistical data and Rotterdam model. The stability of Nash equilibrium point is discussed through bifurcation diagram, maximum Lyapunov exponent, evolutionary trajectory, and time series diagram. The influence of price adjustment speed on equilibrium price is analyzed. The numerical simulation of price adjustment speed is carried out, which is compared with the actual situation of imported soybean price before and after the trade friction. The results show that the model constructed in this paper can reflect the changing trend of price and demand and predict the short-term import soybean prices of Brazil and the United States. The forecast accuracy of price fluctuation is high. The results provide model and theoretical reference for price game under trade disputes and provide methodological reference for forecasting the price of imported goods.

Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://downloads.hindawi.com/journals/8503/2019/6048186.pdf (application/pdf)
http://downloads.hindawi.com/journals/8503/2019/6048186.xml (text/xml)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hin:complx:6048186

DOI: 10.1155/2019/6048186

Access Statistics for this article

More articles in Complexity from Hindawi
Bibliographic data for series maintained by Mohamed Abdelhakeem ().