About Interval Type Walras Dynamic Model for Single Product Market

• Published in: IOP conference series. Earth and environmental science Vol. 272; no. 3; pp. 32221 - 32226
• Main Authors: Sokolov, V, Sevodin, M
• Format: Journal Article
• Language: English
• Published: Bristol IOP Publishing 01.06.2019
• Subjects: Boundary value problems; Commodities; Dynamic models; Economics; Estimates; Fuzzy sets
• ISSN: 1755-1307; 1755-1315; 1755-1315
• DOI: 10.1088/1755-1315/272/3/032221

The article is devoted to the application of the theory of fuzzy sets to the problem of determining certain characteristics of economic subjects of the economy. On the basis of fuzzy estimates of the function of excess demand, a modification of the Walrasian dynamic model of the single commodity market is presented. Estimates of the interval type of the equilibrium position of the model are obtained. The conditions for its stability are found, which represent a system of inequalities for the parameters of the model. The boundary value problem, equivalent in some sense to Walras's usual dynamic model of the single commodity market with constant coefficients for adjusting the supply price, as well as the demand price, is studied. An approximate solution of this boundary-value problem is constructed with a guaranteed degree of accuracy. These results are carried over to the case of the considered modification of the interval type Valras model. The problem was set and solved to change the price of the commodity to the final moment of time.