Understanding Price Formation through a Boid-Based Analysis: Insights from Thailand in the Context of Emerging Economies

Tsubasa Shibata

No 975, IDE Discussion Papers from Institute of Developing Economies, Japan External Trade Organization(JETRO)

Abstract: Thoisn stthud, y2 a0p2p5li es the boid model—a framework of separation, alignment, and cohesion rules originally developed to simulate swarm behavior—to analyze price formation in emerging economies. By adapting these behavioral rules, it classifies sectoral price responses as competitive avoidance, peer alignment, or convergence toward benchmarks. Using Multiregional Input-Output data from the Asian Development Bank, the analysis focuses on Thailand, a country with relatively moderate inflation during the recent global surge. Results show heterogeneous patterns: some sectors follow international price trends, while others maintain differentiation. These findings challenge the view that emerging economies passively absorb global pressures and highlight how behavioral interdependencies shape price dynamics, offering implications for market analysis and policy design.

Keywords: Boid; model|price; formation|emerging; economies|MRIO (search for similar items in EconPapers)
JEL-codes: F14 F41 O10 (search for similar items in EconPapers)
Date: 2025-09
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Published in IDE Discussion Paper = IDE Discussion Paper, No.975. 2025-09

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