59479

Автор(ы): 

Автор(ов): 

1

Параметры публикации

Тип публикации: 

Доклад

Название: 

Real Market Volatility Equilibrium Model Based On Spoiler Equilibrium Concept

Электронная публикация: 

Да

ISBN/ISSN: 

978-1-7281-1094-3

DOI: 

10.1109/MLSD49919.2020.9247740

Наименование конференции: 

  • 2020 13th International Conference "Management of Large-Scale System Development" (MLSD)

Наименование источника: 

  • Proceedings of the 13th International Conference "Management of Large-Scale System Development" (MLSD)

Город: 

  • Moscow

Издательство: 

  • IEEE

Год издания: 

2020

Страницы: 

https://ieeexplore.ieee.org/document/9247740
Аннотация
We regard two tightly interconnected problems. First of all we theoretically regard the origin of endogenous instability or volatility of economics system. Then we are trying to reduce this complex non-linear problem to a classical economic non-excludable resource access problem to recognize pure economic conclusions concerning reducing corresponding market failures.We introduce a common notion of a spoiler equilibrium as an equilibrium usually observed in a multy-agent game systems where rational agents compete for a sufficiently bounded resource that is not excludable. Exactly that a situation arises when somebody uses any public facilities (or common goods) starting from classic commons tragedy problem up to traffic jam problem.In that case there is no price but always there are some market clearing variables. We call this market clearing variables as spoiler factors.In the volatility equilibrium model we recognize the same type of resource distribution when instead of price mechanisms that are generally close to Pareto-efficient one faces resource attractiveness diminishing through the volatility, that decreases each argent's integral leverage demand, while the integral leverage happens to be bounded due to equilibrium stability constraints depending on eigenvalues.

Библиографическая ссылка: 

Кривошеев О.И. Real Market Volatility Equilibrium Model Based On Spoiler Equilibrium Concept / Proceedings of the 13th International Conference "Management of Large-Scale System Development" (MLSD). Moscow: IEEE, 2020. С. https://ieeexplore.ieee.org/document/9247740.