cobweb model

名词 n.
中文释义

英文释义

名词 n.
  1. An economic model that ascribes the periodic price fluctuations in certain types of market to cyclical supply and demand where the amount produced must be chosen before prices are observed, and producers' expectations about prices are assumed to be based on observations of previous prices.

词形变化

cobweb models plural

词源

So called because it can be represented in a diagram as curves overlaid on a spiral, resembling a spider's web.
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