Representation of cyclical supply and demand developed by Nicholas Kaldor
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" (see Kaldor, 1938 and Pashigian, 2008), citing previous analyses in German by Henry Schultz and Umberto Ricci.
The cobwebmodel or cobweb theory is an economic model that explains why prices may be subjected to periodic fluctuations in certain types of markets....
proposed a model of fluctuations in agricultural markets called the cobwebmodel, based on production lags and adaptive expectations. In his model, when prices...
has been used to characterize a variety of models including the cobwebmodel, the overlapping generations model, game theory, schedule optimization and asset...
agents (see cobwebmodel) had become unsatisfactory to economists such as John Muth, who was pivotal in the development of an alternative model of how expectations...
Kaldor–Hicks efficiency for welfare comparisons (1939), derived the cobwebmodel, and argued for certain regularities observable in economic growth, which...
sufficiently low transaction costs in the bargaining and exchange process. cobwebmodel A model which describes cyclical supply and demand in a market where the...
economics field with such models as the cobwebmodel, hedonic regression pricing models, new technology and diffusion models (Zvi Griliches), multifactor...
models of duopoly and monopoly in 1838, a whole new set of models grew out of this new literature. In particular the monopolistic competition model results...
Robin Hahnel later based their Parecon model on the same theory. General equilibrium theorists (category) Cobwebmodel Decision theory Game theory Mechanism...
Apple History, apple-history.com Dan Knight, Computer Profiles, LowEndMac, Cobweb Publishing, Inc. Steven Weyhrich, Apple II History, apple2history.org Pictorial...
A spider web, spiderweb, spider's web, or cobweb (from the archaic word coppe, meaning "spider") is a structure created by a spider out of proteinaceous...
in supply and demand curves is now known as the cobwebmodel. A more formal derivation of this model was made later by Nicholas Kaldor, who is largely...
price levels and inflation, later Keynesians adopted the Phillips curve to model price-level changes. Some Keynesians opposed the synthesis method of combining...
Theridiidae, also known as the tangle-web spiders, cobweb spiders and comb-footed spiders, is a large family of araneomorph spiders first described by...
algorithm in economics Representing rational agents in economic models such as the cobwebmodel the same, in Agent-based computational economics generally...
Apple History, apple-history.com Dan Knight, Computer Profiles, LowEndMac, Cobweb Publishing, Inc. Ultimate Mac Timeline at EveryMac.com Mactimeline a timeline...
chart, spider chart, spider graph, spider web chart, star chart, star plot, cobweb chart, irregular polygon, polar chart, or Kiviat diagram. It is equivalent...
starred in two feature films, The Cobweb and Blood Alley, both released in 1955. Directed by Vincente Minnelli, The Cobweb takes place at a mental institution...
Washington. pp. 461–465. Iba, William; Langley, Pat (27 January 2011). "Cobwebmodels of categorization and probabilistic concept formation". In Pothos, Emmanuel...
spring/summer collection. In 2004, she was chosen to model the World's Most Expensive Dress. A £5m diamond cobweb dress, created by Scott Henshall, which was showcased...
near human dwellings. Their prey mechanism is similar to that of the other cobweb spiders: the spider follows disturbances transmitted along the web to entangle...
Kaldor–Hicks efficiency for welfare comparisons (1939), derived the cobwebmodel, and argued for certain regularities observable in economic growth, which...