Seminar "Expert opinion and data analysis"

On Wednesday, January 12, the National Research University Higher School of Economics hosted a seminar "Expert opinion and data analysis".

Theme: Cobweb market model with a warehouse - description by difference equations. New solution methods
Speaker: Lomonosov T. (HSE)

Annotation:
The web-like market model with a warehouse is a generalization of the classic web-like model for the case when the goods not sold in the current period are sent to the warehouse for possible sale in the next period. There is a speculative element to this model, as warehouses fill up if prices are expected to rise in the next period. Under conditions of rational expectations, this model is reduced to an inhomogeneous second-order linear difference equation with constant coefficients.Despite the fact that the methods for solving such equations are quite well studied, even the method of indeterminate coefficients used in a special case can be very cumbersome. This report proposes a new approach to constructing a matrix of a system of linear algebraic equations for finding a particular solution for the right side of a special form, which is based on the algebraic representation of the latter as an element of a linear space closed under the action of a simple difference operator.In addition, within the framework of the report, the Taylor step contract model is considered, which also reduces to a second-order difference equation. In this employment model, the economy is divided into two equally sized sectors, each with two unions. Contracts are entered into in each sector for a period of two periods, with each union entering into a new contract with new amounts of rewards in the middle of the contract concluded by the other union.