Influence of speculative motives on the stability of a single-commodity market (Q1395261)

The paper is centred on some approaches that can be used to analyze the stability of equilibrium in a single-commodity market model with multiple participants having speculative motivation. It is shown that such a motivation can lead to an oscillatory regime of instability. An asymptotic method is proposed for calculating the critical eigenvalues of the Jacobian matrix, based on a small number of aggregates summarizing the characteristics of all participants.