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Stabilization property of speculative long-time storage in the model of standardized commodity market

机译:标准化商品市场模型中推测性长期储存的稳定性能

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We investigate a model of standardized commodity market and activity of three economic agents on this market: producer, consumer and speculator. Producer and consumer are characterized by linear functions of supply and demand. We consider the ratio between the slopes of demand and supply functions is as such that market equilibrium without speculator is unstable. We investigate two speculative strategies which stabilize an equilibrium. The first strategy of speculator restricts price oscillation by some vicinity of an equilibrium price. This strategy is based on long-time storage and fixed speculative amount of commodity. The second strategy provides a convergence of price-formation process to an equilibrium value. The second strategy is also based on long-time storage, but in this case the speculator maximizes the amount of commodity to be bought, i.e. speculative amount is variable.
机译:我们调查该市场的标准化商品市场和三个经济代理活动的模型:生产者,消费者和投机者。 生产者和消费者的特点是供需线性功能。 我们考虑需求斜率与供应职能之间的比率,因此没有投机者的市场均衡是不稳定的。 我们调查了两种稳定平衡的推测策略。 投机者的第一个策略限制了均衡价格附近的价格振荡。 该策略基于长期储存和固定投机量的商品。 第二种策略为平衡价值提供了价格形成过程的收敛性。 第二种策略也是基于长时间的储存,但在这种情况下,投机者最大化要购买的商品量,即推测量是可变的。

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