THE AGENT-BASED MODEL OF REGULATION OF RETAIL PRICES ON THE MARKET OF PETROLEUM PRODUCTS

Leonid Galchynsky (), Andrij Svydenko and Iryna Veremenko
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Leonid Galchynsky: National Technical University of Ukraine
Andrij Svydenko: National Technical University of Ukraine
Iryna Veremenko: National Technical University of Ukraine

Polish Journal of Management Studies, 2011, vol. 3, issue 1, 136-147

Abstract: This article provides model of the retail gasoline market as multi-agent systems. The main factors, which affecting on the retail price of gasoline were determined. The authors found that using the agent approach, which takes into consideration the coalitions in the market, in particular, tacit collusion, it is possible to describe the behaviour of players correctly. An description of agent behaviour models and algorithms specific agent were done.

Keywords: petroleum products; market; oligopoly; game theory; agent-based model (search for similar items in EconPapers)
JEL-codes: C00 E00 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pcz:journl:v:3:y:2011:i:1:p:136-147

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