Abstract
This short paper proposes a general economics model for the supply and demand of a commodity in a domestic market, when investments are required for supporting it. Starting from System Dynamics, we recover a well-known model. Then, we improve the mathematical equations in order to be precise at the simulation level.
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References
I. Dyner, Energy modelling platforms for policy and strategy support. J. Oper. Res. Soc. 51(2), 136–144 (2000)
J. Valencia, G. Olivar, C.J. Franco, I. Dyner, Nonsmooth dynamics in a model of energy market (preprint)
Acknowledgements
Johnny Valencia acknowledges support from the Colombian National Science Foundation COLCIENCIAS. Gerard Olivar also acknowledges support from CRM (Centre de Recerca Matemàtica) and the Faculty of Exact and Natural Sciences at Manizales, Universidad Nacional de Colombia.
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Valencia, J., Olivar, G. (2017). Challenges from System Dynamics to Complexity and Piecewise-Deterministic Markov Processes: Market Modeling. In: Colombo, A., Jeffrey, M., Lázaro, J., Olm, J. (eds) Extended Abstracts Spring 2016. Trends in Mathematics(), vol 8. Birkhäuser, Cham. https://doi.org/10.1007/978-3-319-55642-0_34
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DOI: https://doi.org/10.1007/978-3-319-55642-0_34
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