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Price Basics

  • Tim Gooding
Chapter

Abstract

It is often said that price is determined by supply and demand. Empirical evidence suggests that this is true in the short run. In the long run, time allows for complexity dynamics to become dominant. This chapter examines the behaviour of price in a complex system. Specifically, empirical evolutionary prerequisites present in the markets are introduced to examine their long-term impact.

Keywords

Price, supply and demand Evolution Mutation Inequality Evolutionary prerequisites Agent-based model Netlogo Toy Trader model 

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Tim Gooding
    • 1
  1. 1.Kingston UniversityKingston upon ThamesUK

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