dorsal/arxiv
View SchemaDelayed information flow effect in economy systems. An ACP model study
| Authors | Janusz Miskiewicz, Marcel Ausloos |
|---|---|
| Categories | |
| ArXiv ID | physics/0607107 |
| URL | https://arxiv.org/abs/physics/0607107 |
| DOI | 10.1016/j.physa.2007.02.018 |
| Journal | Physica A 382 (2007) 179-186 |
Abstract
Applying any strategy requires some knowledge about the past state of the system. Unfortunately in the case of economy collecting information is a difficult, expensive and time consuming process. Therefore the information about the system is known at the end of some well defined intervals, e. g. company reports, inflation data, GDP etc. They describe a (market) situation in the past. The time delay is specific to the market branch. It can be very short (e.g. stock market offer is updated every minute or so and this information is immediately available) or long, like months in the case of agricultural market, when the decisions are taken based on the results from the previous harvest. The analysis of the information flow delay can be based on the ACP model of spatial evolution of economic systems. The entities can move on a square lattice and when meeting take one of the two following decisions: merge or create a new entity. The decision is based on the system state, which is known with some time delay. The effect of system's feedback is investigated. We consider the case of company distribution evolution in a heterogenous field. The information flow time delay implies different final states, including cycles.
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"abstract": "Applying any strategy requires some knowledge about the past state of the\nsystem. Unfortunately in the case of economy collecting information is a\ndifficult, expensive and time consuming process. Therefore the information\nabout the system is known at the end of some well defined intervals, e. g.\ncompany reports, inflation data, GDP etc. They describe a (market) situation in\nthe past. The time delay is specific to the market branch. It can be very short\n(e.g. stock market offer is updated every minute or so and this information is\nimmediately available) or long, like months in the case of agricultural market,\nwhen the decisions are taken based on the results from the previous harvest.\n The analysis of the information flow delay can be based on the ACP model of\nspatial evolution of economic systems. The entities can move on a square\nlattice and when meeting take one of the two following decisions: merge or\ncreate a new entity. The decision is based on the system state, which is known\nwith some time delay. The effect of system\u0027s feedback is investigated. We\nconsider the case of company distribution evolution in a heterogenous field.\nThe information flow time delay implies different final states, including\ncycles.",
"arxiv_id": "physics/0607107",
"authors": [
"Janusz Miskiewicz",
"Marcel Ausloos"
],
"categories": [
"physics.data-an",
"physics.soc-ph"
],
"doi": "10.1016/j.physa.2007.02.018",
"journal_ref": "Physica A 382 (2007) 179-186",
"title": "Delayed information flow effect in economy systems. An ACP model study",
"url": "https://arxiv.org/abs/physics/0607107"
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