Name
Title | ||
|---|---|---|
Cherry Picking: Consumer Choices in Swarm Dynamics, Considering Price and Quality of Goods. |
Abstract | ||
|---|---|---|
This paper proposes a further development of the mathematical theory of swarms to behavioral dynamics of social and economic systems, with an application to the modeling of price series in a market. The complexity features of the system are properly described by modeling the asymmetric interactions between buyers and sellers, specifically considering the so-called cherry picking phenomenon, by which not only prices but also qualities are considered when buying a good. Finally, numerical simulations are performed to depict the predictive ability of the model and to show interesting emerging behaviors, as the coordination of buyers and their division in endogenous clusters. |
Year | DOI | Venue |
|---|---|---|
2020 | 10.3390/sym12111912 | SYMMETRY-BASEL |
Keywords | DocType | Volume |
kinetic theory,social dynamics,active particles,swarm theory,price formation,cherry picking,pattern formation,clusters | Journal | 12 |
Issue | Citations | PageRank |
11 | 0 | 0.34 |
References | Authors | |
0 | 3 | |
Name | Order | Citations | PageRank |
|---|---|---|---|
| D. A. Knopoff | 1 | 4 | 2.13 |
| Valeria Secchini | 2 | 0 | 0.34 |
| Pietro Terna | 3 | 0 | 0.34 |