C65 - Miscellaneous Mathematical ToolsReturn
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Stochastic Model of Thin Market with an Indivisible CommodityMartin ©mídActa Oeconomica Pragensia 2005, 13(1):94-100 | DOI: 10.18267/j.aop.140 In the paper, a thin market with an indivisible commodity, at which the market price is determined (by an organizer of the market) as the average price maximizing the traded volume, is modeled. Two models are presented - the first one with a finite, the second one with a possibly infinite number of participants. In both the cases, the joint distribution of the market price and the traded volume is derived. |