Аlgorithms for determining equilibrium states of an economy under the presence of monopolies and consumers with different behaviours

Authors

  • Andrii P. Makhort The Laboratory of Mathematical Modelling of the Department for Synergetics of the Bogolyubov Institute for Theoretical Physics of the National Academy of Sciences of Ukraine, Kyiv, Ukraine https://orcid.org/0000-0002-8877-5884

DOI:

https://doi.org/10.20535/SRIT.2308-8893.2019.2.06

Keywords:

equilibrium, demand, supply, taxation, monopolists, pricing

Abstract

The equilibrium model of Walrassian type is applied to a description of a reaction of an economy system on an influence of selected factors. The research involves an adaptation of an equilibrium problem in case of an economy with different behaviours of consumers to use simpler solving methods that correspond to the case of exclusively insatiable consumers in the economy. An application of iterative methods for solving the economy equilibrium problem is justified. The conditions on the specified model characteristics that lead to a convergence of the iterative methods are presented. The proposed algorithm that determines the equilibrium characteristics allows to determine the conditions for reaching equilibrium states with specified properties.

Author Biography

Andrii P. Makhort, The Laboratory of Mathematical Modelling of the Department for Synergetics of the Bogolyubov Institute for Theoretical Physics of the National Academy of Sciences of Ukraine, Kyiv

Andrii Phylypovych Makhort,

Ph.D, a senior researcher at the Laboratory of Mathematical Modelling of the Department for Synergetics of the Bogolyubov Institute for Theoretical Physics of the National Academy of Sciences of Ukraine, Kyiv, Ukraine.

References

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Published

2019-06-25

Issue

No. 2 (2019)

Section

Decision making and control in economic, technical, ecological and social systems

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