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Microeconomic Demand Functions Implementation in Java Experiments

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Agent and Multi-Agent Systems: Technologies and Applications

Part of the book series: Advances in Intelligent Systems and Computing ((AISC,volume 296))

Abstract

The aim of this paper is to introduce microeconomic demand functions (Marshallian demand function and Cobb-Douglas utility function) in Java simulation experiments. The motivation is to use these function as a core element in a seller-to-customer price negotiation in an agent-based simulations. Furthermore, multi-agent model is proposed and implemented in Java to serve as a simulation framework to support the virtual company trading processes. The main background of this framework is to be integrated in management information systems as a decision support module. The paper firstly presents some of the existing principles about consumer behavior, agent-based modeling and simulation in the same area and demand function theory. Secondly, presents multi-agent model and demand functions negotiations. Lastly, depicts some of the simulation results in a trading processes throughout one year of selling commodities to consumers. The results obtained show that in some metrics the demand functions could be used to predict the trading results of a company.

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Author information

Authors and Affiliations

  1. School of Business Administration in Karviná, Department of Informatics, Silesian University in Opava, Univerzitní nám. 1934/3a, 733 40, Karviná, Czech Republic

    Roman Šperka & Marek Spišák

Authors
  1. Roman Šperka
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  2. Marek Spišák
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Corresponding author

Correspondence to Roman Šperka .

Editor information

Editors and Affiliations

  1. Faculty of Electrical Eng. and Comp. Department of Telecommunications, University of Zagreb, Zagreb, Croatia

    Gordan Jezic

  2. Faculty of Electrical Eng.and Com. Department of Telecommunications, University of Zagreb, Zagreb, Croatia

    Mario Kusek

  3. Faculty of Electrical Eng. and Comp. Department of Telecommunications, University of Zagreb, Zagreb, Croatia

    Ignac Lovrek

  4. KES International, City, United Kingdom

    Robert J. Howlett

  5. Faculty of Education, Science, Technology and Mathematics, University of Canberra, Adelaide, South Australia, Australia

    Lakhmi C. Jain

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Šperka, R., Spišák, M. (2014). Microeconomic Demand Functions Implementation in Java Experiments. In: Jezic, G., Kusek, M., Lovrek, I., J. Howlett, R., Jain, L. (eds) Agent and Multi-Agent Systems: Technologies and Applications. Advances in Intelligent Systems and Computing, vol 296. Springer, Cham. https://doi.org/10.1007/978-3-319-07650-8_19

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  • DOI: https://doi.org/10.1007/978-3-319-07650-8_19

  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-07649-2

  • Online ISBN: 978-3-319-07650-8

  • eBook Packages: EngineeringEngineering (R0)

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