Mathematical model of the dynamics of the interaction of goods prices on adjacent markets: the problem of limit cycles

Abstract

The purpose of this work is to build a mathematical model of economic dynamics, which would allow, in general, to carry out a qualitative analysis (according to phase trajectories) of the processes that determine the state of equilibrium with respect to prices on adjacent commodity markets. Application of the system of differential equations in this mathematical model of economic dynamics allows considering processes that are continuous in time. It is shown that six limit cycles in the ratio 3:3 exist simultaneously in this system. This analytical model allows to study the dynamics of prices in adjacent markets depending on the value of the model parameters and, accordingly, can be the basis for simulation modeling.