Markov Chain Analysis and Prediction on the Fluctuation Cycle of Vegetable Price

Xiaoxia Zhu (), Xueling Liu, Lichun Bao and Xiuquan Xu
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Xiaoxia Zhu: Hebei University of Science and Technology
Xueling Liu: Bejing Aerospace Control Center
Lichun Bao: Bejing Aerospace Control Center
Xiuquan Xu: Beijing Jiaotong University

A chapter in LISS 2012, 2013, pp 1457-1463 from Springer

Abstract: Abstract In this paper, in order to solve the problems of heavy price fluctuations and unbalanced resource allocation in the vegetable wholesale market caused by huge daily demand and varied supply channels, we establish the predication model of Markov chain (MC), and a case just like the future price fluctuation interval and cycle of some kind of seasonal vegetable in Fushan area, the analysis and forecasting results indicate that the predication model of MC is a feasible technique to analyze the changing laws of something and forecasts its future trend with the basic principles and methods of MC. Meanwhile, the principle of economics that the commodity price fluctuates around the commodity value in the free market economy is confirmed from the mathematical point.

Keywords: Price of vegetable; Markov chain; Fluctuation cycle; Prediction (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-32054-5_206

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DOI: 10.1007/978-3-642-32054-5_206

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