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Price Competition with Particle Swarm Optimization: An Agent-Based Artificial Model

Tong Zhang () and B Brorsen

No 6780, 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas from Southern Agricultural Economics Association

Abstract: This study instructs an artificial price competition market to examine the impact of capacity constraints on the behavior of packers. Results show when there are cattle left for the lowest bidder after all other packers finishing their procurement, the capacity constraints make the price lower than the perfect competition level.

Keywords: Livestock Production/Industries; Research Methods/ Statistical Methods (search for similar items in EconPapers)
Pages: 17
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:ags:saeaed:6780

DOI: 10.22004/ag.econ.6780

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