Wednesday, November 30, 2011

7.3 - Price/quantity model

Put together the Price - Goods model in Stella or download it from here. Try to find another function or set of parameters that would make it converge faster.

I tweaked the parameters and production/consumption functions and to get faster convergence. I ended up with the following parameters and functions:

C_g1 = 0.02
C_g2 = 0.03
C_p1 = 0.0055
C_p2 = .06
Production = C_g1*Price^1.55
Consumption = 1/C_g2/Price^0.25



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