CORDIS Project
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This project analyzes real market dynamics by treating them as complex adaptive systems. It focuses on understanding price-setting, trading behaviors, and market interactions in perishable goods and electricity markets, aiming to improve market efficiency and address issues like price discrimination.
It is widely recognised that the standard notion of market equilibrium omits many aspects of how real markets function.
Who sets prices, who trades with whom and how the market settles, if it does on a single price for each good are largely unanswered questions.
To obtain an understanding of how markets actually function and their dynamics, we have to allow for the different degrees of rationality of market participants, learning mechanisms and the structure of the interactions between the vario…
UNIVERSITE D'AIX MARSEILLE
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France, MARSEILLE
Type: University / higher education
Activity type: Higher or Secondary Education Establishments
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