Stability analysis of price system based on stochastic model

Author

Guo, Jialiang ; Wang, Hongli ; Han, Hongchen

Author_Institution

Sch. of Manage., Tianjin Univ., Tianjin, China

fYear

2009

fDate

21-23 Oct. 2009

Firstpage

260

Lastpage

263

Abstract

Price system was analyzed by a nonlinear stochastic dynamic model with the supply and demand factors. This model converged to a process in probability. Then the stability of the system was analyzed by the result of drift coefficient and diffusion coefficient of the process. Numerical simulation results of the stationary probability density with different conditions were shown. It can be concluded that the stability of the system varied as the parameters varied. Finally, the influence of parameters on the stochastic bifurcation was analyzed.

Keywords

inflation (monetary); numerical analysis; pricing; stability; stochastic processes; diffusion coefficient; drift coefficient; nonlinear stochastic dynamic model; price system; stability analysis; stationary probability density; stochastic bifurcation; supply and demand factors; Bifurcation; Costs; Nonlinear dynamical systems; Nonlinear equations; Numerical simulation; Stability analysis; Stochastic processes; Stochastic resonance; Stochastic systems; Supply and demand; Price system; bifurcation; numerical simulation; stochastic stability;

fLanguage

English

Publisher

ieee

Conference_Titel

Industrial Engineering and Engineering Management, 2009. IE&EM '09. 16th International Conference on

Conference_Location

Beijing

Print_ISBN

978-1-4244-3671-2

Electronic_ISBN

978-1-4244-3672-9

Type

conf

DOI

10.1109/ICIEEM.2009.5344594

Filename

5344594