Cobweb model

The convergent case: each new outcome is successively closer to the intersection of supply and demand.

The divergent case: each new outcome is successively further from the intersection of supply and demand.

The cobweb model or cobweb theory is an economic model that explains why prices might be subject to periodic fluctuations in certain types of markets. It describes cyclical supply and demand in a market where the amount produced must be chosen before prices are observed. Producers' expectations about prices are assumed to be based on observations of previous prices. Nicholas Kaldor analyzed the model in 1934, coining the term "cobweb theorem" (see Kaldor, 1938 and Pashigian, 2008), citing previous analyses in German by Henry Schultz and Umberto Ricci.

单词	Cobweb theorem
释义	Cobweb theorem 英语百科 Cobweb model The cobweb model or cobweb theory is an economic model that explains why prices might be subject to periodic fluctuations in certain types of markets. It describes cyclical supply and demand in a market where the amount produced must be chosen before prices are observed. Producers' expectations about prices are assumed to be based on observations of previous prices. Nicholas Kaldor analyzed the model in 1934, coining the term "cobweb theorem" (see Kaldor, 1938 and Pashigian, 2008), citing previous analyses in German by Henry Schultz and Umberto Ricci.
随便看	saturation threshold saturation time saturation time constant saturation tower saturation transfer saturation transfer electron paranagnetic resonance saturation transfer electron spinreonance saturation transfer electron spin resonance saturation transfer ESR saturation transformator saturation transformer saturation type saturation type acid cell saturation type circuit saturation uptake saturation value saturation vapor Saturation vapor pressure saturation vapor pressure in the pure phase with respect to ice saturation vapor pressure in the pure phase with respect to water saturation vapor pressure method saturation vapor pressures saturation vapour Saturation Vapour Pressure Saturation velocity

Cobweb theorem

Cobweb model