Modelování cenových očekávání a analýza jejich vlivu na trh

Price expectations modelling and analysis of its influence on the market

Jiří Hron

Politická ekonomie, 2000, vol. 2000, issue 2

Abstract: In this article is developed a market model which takes account of price expectations. The model is based on simple assumptions and its properties are mathematically deduced. The demand-supply analysis is enlarged by uncertainty and the influence of price expectations. The price volatility is explained by distribution of price expectations of the market agents. The article also examines influence of the presence of deterministic agents among stochastic ones on market price uncertainty. There is random variable in the model which describes a volume of the market exchange. This random variable is not dependent on distribution of price expectations.

Keywords: distributions of price expectations; price strategy; characteristic point; uncertainty on the market; price volatility; market exchange distribution (search for similar items in EconPapers)
Date: 2000
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DOI: 10.18267/j.polek.128

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