loading
Papers

Research.Publish.Connect.

Paper

Paper Unlock

Authors: Jun Kiniwa 1 ; Kensaku Kikuta 1 and Hiroaki Sandoh 2

Affiliations: 1 University of Hyogo, Japan ; 2 Osaka University, Japan

ISBN: 978-989-758-073-4

Keyword(s): Multiagent Model, Price Determination, Self-stabilization, Inflation, Deflation.

Related Ontology Subjects/Areas/Topics: Agents ; Artificial Intelligence ; Artificial Intelligence and Decision Support Systems ; Auctions and Markets ; Distributed and Mobile Software Systems ; Economic Agent Models ; Enterprise Information Systems ; Knowledge Engineering and Ontology Development ; Knowledge-Based Systems ; Multi-Agent Systems ; Software Engineering ; Symbolic Systems

Abstract: We consider a simple network model for economic agents where each can buy goods in the neighborhood. Their prices may be initially distinct in any node. However, by assuming some rules on new prices, we show that the distinct prices will reach an equilibrium price by iterating buy and sell operations. First, we present a protocol model in which each agent always bids at some rate in the difference between his own price and the lowest price in the neighborhood. Next, we show that the equilibrium price can be derived from the total funds and the total goods for any network. This confirms that the inflation / deflation occurs due to the increment / decrement of funds as long as the quantity of goods is constant. Finally, we consider how injected funds spread in a path network because sufficient funds of each agent drive him to buy goods. This is a monetary policy for deflation. A set of recurrences lead to the price of goods at each node at any time. Then, we compare two injections with half funds and single injection. It turns out the former is better than the latter from a fund-spreading point of view, and thus it has an application to a monetary policy and a strategic management based on the information of each agent. (More)

PDF ImageFull Text

Download
CC BY-NC-ND 4.0

Sign In Guest: Register as new SciTePress user now for free.

Sign In SciTePress user: please login.

PDF ImageMy Papers

You are not signed in, therefore limits apply to your IP address 3.233.224.8

In the current month:
Recent papers: 100 available of 100 total
2+ years older papers: 200 available of 200 total

Paper citation in several formats:
Kiniwa, J.; Kikuta, K. and Sandoh, H. (2015). An Inflation / Deflation Model for Price Stabilization in Networks.In Proceedings of the International Conference on Agents and Artificial Intelligence - Volume 2: ICAART, ISBN 978-989-758-073-4, pages 125-132. DOI: 10.5220/0005186101250132

@conference{icaart15,
author={Jun Kiniwa. and Kensaku Kikuta. and Hiroaki Sandoh.},
title={An Inflation / Deflation Model for Price Stabilization in Networks},
booktitle={Proceedings of the International Conference on Agents and Artificial Intelligence - Volume 2: ICAART,},
year={2015},
pages={125-132},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0005186101250132},
isbn={978-989-758-073-4},
}

TY - CONF

JO - Proceedings of the International Conference on Agents and Artificial Intelligence - Volume 2: ICAART,
TI - An Inflation / Deflation Model for Price Stabilization in Networks
SN - 978-989-758-073-4
AU - Kiniwa, J.
AU - Kikuta, K.
AU - Sandoh, H.
PY - 2015
SP - 125
EP - 132
DO - 10.5220/0005186101250132

Login or register to post comments.

Comments on this Paper: Be the first to review this paper.