Cobweb model
id:
cobweb-model-275-8299274
title:
Cobweb model
text:
The cobweb model or cobweb theory is an economic model that explains why prices may be subjected to periodic fluctuations in certain types of markets. It describes cyclical supply and demand in a market where the amount produced must be chosen before prices are observed. Producers' expectations about prices are assumed to be based on observations of previous prices. Nicholas Kaldor analyzed the model in 1934, coining the term "cobweb theorem", citing previous analyses in German by Henry Schultz
brand slug:
wiki
category slug:
encyclopedia
description:
Representation of cyclical supply and demand developed by Nicholas Kaldor
original url:
https://en.wikipedia.org/wiki/Cobweb_model
date created:
date modified:
2024-02-26T12:46:47Z
main entity:
{"identifier":"Q593544","url":"https://www.wikidata.org/entity/Q593544"}
image:
fields total:
13
integrity:
14