
	Where results make sense

Topic: Cobweb model

Related Topics

General equilibrium

List of economics topics

	Cobweb model - Wikipedia, the free encyclopedia
		It is an economic model of cyclical supply and demand in which there is a lag between response of producers to a change of price.
		The cobweb model was identified by the Hungarian economist, Nicholas Kaldor.
		One criticism of this model is its assumption that producers are extremely shortsighted; they are fundamentally unable to judge market conditions or learn from their pricing mistakes that result in surplus/shortfall cycles.
	en.wikipedia.org /wiki/Cobweb_model (615 words)

	Cobweb - Wikipedia, the free encyclopedia
		The cobweb model refers to an economic model of cyclical supply and demand.
		COBWEB is a well-known incremental system for hierarchical conceptual clustering.
		In mathematics, a web diagram, also called a cobweb plot, is a graph that can be used to visualize successive iterations of a function y==f(x).
	en.wikipedia.org /wiki/Cobweb (157 words)

	Cobweb Eliminator --> Info and Comparisons (Site not responding. Last check: 2007-10-13)
		The cobweb theory was identified by the Hungarian economist, Nicholas Kaldor.
		A cobweb plot, or Verhulst diagram is a visual tool used in the dynamical systems field of mathematics to investigate the qualitative behaviour of one dimensional iterated functions, such as the logistic map.
		Using a cobweb plot, it is possible to infer the long term status of an initial condition under repeated application of a map.
	www.crashdatabase.com /computers/22/cobweb-eliminator.html (1213 words)

	3.11 COBWEB
		Whereas iterative distance-based clusterings, such as K-Means, iterate over the whole dataset until convergence in the clusters is reached, COBWEB works incrementally, updating the clustering instance by instance.
		The clustering COBWEB creates is expressed in the form of a tree, with leaves representing each instance in the tree, the root node representing the entire dataset, and branches representing all the clusters and subclusters within the tree.
		To overcome this potential problem, COBWEB allows you to set the acuity setting, which is the minimum value for the standard deviation.
	grb.mnsu.edu /grbts/doc/manual/COBWEB.html (384 words)

	Exercises Ch 19
		The greater volatility in the new model is probably caused by the "lumpiness" associated with a simulated industry comprised of 16 large smelters.
		Recall that the model in chapter 19 sets the cost of alumina at 15 cents per pound of aluminum that will be extracted from the alumina.
		Expand the model in the 4th exercise of chapter 19 to simulate the investment in advanced technology at the smelters with highly variable operations.
	www.wsu.edu /~forda/ch19exex.html (1546 words)

	Paper: Christian2000 :: nt-user (Site not responding. Last check: 2007-10-13)
		Abstract The supply of new engineers, which is often described as fitting a cobweb labor supply model of alternating shortages and surpluses, is modeled using a bivariate vector autoregression involving the number of new engineering graduates and the average relative starting salaries of engineers in industry.
		In particular, "cobweb" labor supply implies that, in occupations that require training for a substantial period of time, one should expect alternating shortages and surpluses of labor.
		If a "cobweb" exists, I expect that only latelagged salaries will be estimated to have an impact on graduations since potential engineers near college graduation will not have had the opportunity to alter their entry in response to current and early- lagged salaries.
	computing.breinestorm.net /salaries+starting+engineering+cobweb+hypothesis (606 words)

	CobwebButterflies of Virginia -- Hesperia metea My Cobweb Corner (Site not responding. Last check: 2007-10-13)
		Cobweb Cobweb Cobweb Butterflies of Virginia -- Hesperia metea.
		Cobweb A mineral is a naturally occurring, inorganic, solid, with a definite chemical composition and.
		The 1 ply "Cobweb" yarn, spun from the finest wool, is traditionally used in the.
	www.looksilver.com /cobweb.html (794 words)

	Model Checking CobWeb Protocols for Verification of HTML Frames Behavior
		CobWeb is a formal model of the interactions among users in a collaborative enterprise that owes it heritage to the Trellis hypermedia project [1, 2, 3] and related followon Web research [4, 5].
		This model is then traversed to determine if the sequences of states that are possible at run-time exhibits certain desired properties; these properties are expressed in temporal logic, an extension of predicate calculus that allows assertions to be made about sequences of states (instead of a single state).
		Even though the SMV model checker operates in time that is linear in the size of the model + size of the formula, getting the model in the first place is exponentially expensive if we were to try to build a state machine the traditional way and express it in SMV.
	www2002.org /CDROM/refereed/80/index.html (5988 words)

	Barnett, Chiarella, Keen, Marks and Schnabl (eds.) Commerce, Complexity, and Evolution: Topics in Topics in Economics, ...
		The aim is to identify optimal algorithmic trading models by evolving complex combinations of arithmetic, logical and inequality relations to produce approximations to moving averages, exponential smoothing, directional movement and the like.
		("The cobweb model and a modified genetic algorithm") is to modify a previously formulated GA with the aim of achieving stable convergence.
		The models used to represent organisms/firms and/or relationships amongst them (whether they are evolving or not) may or may not be evolutionary; and regardless of whether they are evolutionary, they may or may not exhibit chaotic properties.
	jasss.soc.surrey.ac.uk /6/2/reviews/wiley.html (1934 words)

	Section 5: Using spreadsheets for dynamic / time-series modelling - Using spreadsheets to promote student understanding
		The model implies the quantity supplied is determined by the price in the previous time period.
		For instance, the cobweb model can be either divergent (the size of the price and quantity fluctuations increase over time), convergent (the size of the price and quantity fluctuations decrease over time) or stable (the size of the price and quantity fluctuations remain the same over time).
		The difference between the deterministic and stochastic models is illustrated by the graphical output.
	www.bized.co.uk /educators/he/spreadsheet/section_5.htm (2287 words)

	Using Spreadsheets to Explore Neoclassical Assumptions in a Keynesian Model (CHEER v14 n2)
		Unfortunately, it was not straightforward to use early versions of Lotus 1-2-3 to solve the model for the equilibrium; consequently, the purpose of the examples was to graph the time-series data generated by the systems.
		For clarity we define neoclassical models as models in which prices are perfectly flexible and expectations are rational, so markets are in equilibrium as long as all information is known.
		The model is the basic new Keynesian aggregate demand-price adjustment framework presented in Hall and Taylor's (1997) Macroeconomics textbook.
	www.economics.ltsn.ac.uk /cheer/ch14_2/cahill.htm (2299 words)

	1999 Finance and Economics Working Paper Abstracts
		The model is sufficiently rich with respect to markets, sectors and agents and consistent with respect to budget constraints to capture sufficient broad details of actual macroeconomies and so serve as a macrotheoretic basis for many large scale models.
		This model allows, on the one hand, for basic consistency checks, such as fully specified bedget identities and a well-defined steady state refernce path and is therefore carefully specified from the theoretical point of view.
		In subsequent papers we derive the intensive form of the model, its interior steady state solution and a 22 dimensional core dynamics which is then investigated from the theoretical and the numerical point of view, concerning the major feedback loops it contains and the stabilizing or destabilizing implications they give rise to.
	www.uts.edu.au /fac/business/finance/research/wp1999_abstracts.html (1799 words)

	[No title]
		In this paper we consider how suppliers in a cobweb model Êmay learn about their economic environment.
		Instead of assuming the one step backward-looking expectation scheme of the traditional linear cobweb model, we consider the subjective estimates of the statistical distribution of the market prices based on L-step backward time series of market clearing Êprices.
		With constant risk aversion, the cobweb model becomes nonlinear.
	journal-ci.csse.monash.edu.au /ci/vol06/chiarella (102 words)

	Blesok31, reviews - Zvonko Taneski: Communicative Status of the “Cobweb Novel”
		Indeed, the spider cobweb has some kind of closeness with the labyrinth and the tree of life, but the differences are much bigger than similarities...
		And as the hero of the novel is captured in the cobweb of his loneliness, the loner spider, when it builds its first cobweb, becomes intolerant and loses every interest in company.
		Therefore, the cobweb in both cases (we are first of interested in the text itself, as the symbolic code is only an “auxiliary road” to it) is a key for the social behavior.
	www.blesok.com.mk /tekst.asp?lang=eng&tekst=512 (1143 words)

	Math 398
		cobweb.m is a Matlab function that runs a simulation for a discrete population model and displays the simulation together with the cobweb diagram.
		Leslie.m is a Matlab function that runs a simulation for a structured discrete population model.
		pharm.m is a Matlab function that runs a simulation for a pharmacokinetics model in which a medication is administered through IV drip for a specific duration.
	www.math.unl.edu /~gledder1/Math398 (193 words)

	Cobweb Model
		In the basic model of supply and demand, the price adjusts so that the quantity supplied and the quantity demanded are equal.
		The Cobweb Model shows how achieving a supply and demand equilibrium might be so automatic if, as seems reasonable, the suppliers set the price and the consumers react with a quantity demanded.
		The Cobweb Model is the classic demonstration that dynamic behavior by economic agents might not converge to a stable equilibrium with supply equal to demand.
	www.econmodel.com /classic/cobweb.htm (237 words)

	Find Free Essays on Cobweb Theorem
		Cobweb model (know as Hog Cycle) is a dynamic analysis which provides an explanation for certain types of cyclical behaviours due to regular fluctuation in price and output.
		The model also assumes that there is a one period time lag in production response.
		In Cobweb model a cycle duration is assumed to be 2 multiplied by a production lag.
	www.findfreeessays.com /show_essay/10979.html (256 words)

	Glossary of research economics (via CobWeb/3.1 planetlab2.cs.unc.edu) (Site not responding. Last check: 2007-10-13)
		The ARCH econometric model for this (introduced by Engle (1982)) is that the variance of the series itself is an AR (autoregressive) time series, often a linear one.
		The CAPM is one, distinguished from three that Fama (1991) identifies: (a) the Sharpe-Lintner-Black class of models, (b) the multifactor models like the APT of Ross (1976), and (c) the consumption based models such as Lucas (1978).
		The estimation of some parameters of a model, under the assumption that the model is correct, as a middle step in the study of other parameters.
	www.econterms.com.cob-web.org:8888 /econtent.html (14544 words)

	Wikipedia:WikiProject Business and Economics/BEF - Wikipedia, the free encyclopedia (via CobWeb/3.1 ... (Site not responding. Last check: 2007-10-13)
		Model (economics) - A very complete article on an often overlooked facet of economics: the conclusion drawn can be no better than the model and the assumptions used in that model.
		I am not particularly good at modeling theory, but I was wondering where partial equilibrium models, general equalibrium models, dynamic models, comparative static models, matrix models (input-output models, Physiocratic models), game theory, econometric models, complexity models, chaos theory models, and behavioural economics models fit in the descibed categorization scheme?
		I noticed that the article now states that it is not attempting to give a complete taxonomy of economic models: Stating the scope and limitations like this is an improvement.
	en.wikipedia.org.cob-web.org:8888 /wiki/Wikipedia:The_Business_and_Economics_Forum (2885 words)

	RePEc
		Abstract: This paper studies the dynamics of the traditional cobweb model with risk averse heterogeneous producers who seek to learn the distribution of asset prices using a geometric decay processes (GDP) - the expected mean and variance are estimated as a geometric weighted average of past observations - with either finite or infinite fading memory.
		With constant absolute risk aversion, the dynamics of the model can be characterized with respect to the length of memory window and the memory decay rate of the learning GPD.
		It is found that the learning memory decay rate of the GDP of heterogeneous producers plays a complicated role on the pricing dynamics of the nonlinear cobweb model.
	www.inomics.com /cgi/repec?handle=RePEc:uts:rpaper:108 (264 words)

	Legal Fusion Group Cobwebs
		refers to an economic model of cyclical supply and demand.
		COBWEB incrementally organizes observations into a classification tree.
		Each node in a classification tree to represent a class (concept) and is labeled by a probabilistic concept that summarizes the attribute-value distributions of objects classified under the node.
	www.legalfusiongroup.com /articles/c/o/b/cobwebs/cobwebs.html (168 words)

	Mathcad Application Server Example Worksheets (Site not responding. Last check: 2007-10-13)
		The cobweb theorem is an old but beloved toy of economists to show market dynamics.
		Following Gandolfo (1997), the traditional cobweb model, where supply reacts to price with a lag of one period, can be considered as a particular case of a more general model involving price expectations.
		As presented, the worksheet serves as a short tutorial on using cobweb models for market trend analysis.
	mas.mathsoft.com /mas/worksheets/cobweb.mcd (755 words)

	Evaluating the benefits from liberalization in agriculture: are standard Walrasian models relevant?
		Hence the necessity of "disequilibrium models", tailored on the same general pattern as of partial or general equilibrium models, but modified in order to take account of the above considerations, in just the same way as the standard class room equilibrium supply and demand has been converted into a disequilibrium model.
		The model is made of a large quantity of submodels, each of which being relatively simple and “classical” in its spirit, the main unknown being the behavior of the whole, when constrained by the necessity of clearing markets.
		However, in most similar GTAP models, the new capital is allocated to sectors according to some elasticity of new capital supply with respect to profitability (in order avoiding that all new capital be allocated to the "most profitable industry").
	www.economicswebinstitute.org /essays/liberalization.htm (5943 words)

	Learning about the Cobweb
		Sufficient conditions on the local stability of the unique positive equilibrium ; of the nonlinear model are derived and, consequently, we show that the local stability region (of the parameters of the equation) is proportional to the lag length L.
		When the equilibrium loses its local stability, we show that, for L=2, the model has strong 1:3 resonance bifurcation and a family of fixed points of order 3 becomes unstable on both sides of criticality.
		Those simulations imply that the general behaviour of models built along this line is very different from what we have seen in the previous sections (certainly quite a different picture to the one suggested by Boussard [2]).
	www.complexity.org.au /ci/vol06/chiarella/chiarella.html (2306 words)

	Dirk Robinson – Portfolio Entry #2 “Is Cobweb Theory Useful
		Introduction: The Cobweb Model is a slight alteration of model of supply and demand.
		To approximate the supply curve, I correlate each supply value with the price of the previous year, as the Cobweb Model predicts that producers base their output on the price in the previous period.
		I am forced to conclude that the Cobweb Model does not accurately fit the data in this scenario.
	www.wsu.edu /~zarg/econ198/port_2.htm (256 words)

	Cobweb 6 (Site not responding. Last check: 2007-10-13)
		On the whole, it's pretty clear that prices and outputs are not as unstable as the cobweb model, it its simplest form, predicts.
		It's clear that the cobweb theory cannot be applied to just every market -- it should be applied only when supply lags behind the price -- and should be applied with some caution about its more extreme conclusions.
		However, cobweb fluctuations are (at most) one of the many dimensions of the "farm problem," which we will now consider in more detail.
	william-king.www.drexel.edu /top/prin/txt/eqapps/cob6.html (249 words)

Try your search on: Qwika (all wikis)