THE AGENT-BASED MODEL OF REGULATION OF RETAIL PRICES ON THE MARKET OF PETROLEUM PRODUCTS

This article provides model of the retail gasoline market as multi-agent systems. The main factors, which affecting on the retail price of gasoline were determined. The authors found that using the agent approach, which takes into consideration the coalitions in the market, in particular, tacit collusion, it is possible to describe the behaviour of players correctly. An description of agent behaviour models and algorithms specific agent were done.

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Year of publication:	2011
Authors:	Galchynsky, Leonid ; Svydenko, Andrij ; Veremenko, Iryna
Published in:	Polish Journal of Management Studies. - Wydział Zarządzania. - Vol. 3.2011, 1, p. 136-147
Publisher:	Wydział Zarządzania
Subject:	petroleum products \| market \| oligopoly \| game theory \| agent-based model

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Extent:	application/pdf text/html
Type of publication:	Article
Classification:	E00 - Macroeconomics and Monetary Economics. General ; C00 - Mathematical and Quantitative Methods. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009021835