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In a market with buyers and sellers, it is possible that two buyers are both trying to purchase the same commodity, but there is not enough supply for both of them. There needs to be some mechanic to resolve this, and determine who gets access to that supply.
A simple way to think about this is some sort of bidding system, through which agents check their financial constraints and make bids on the limited commodity, with the higher bid winning.
The text was updated successfully, but these errors were encountered:
dean-krueger
changed the title
Decide the mechanic through which agents with potentially imperfect information interact with the DRE
Develop a mechanic to represent competition over limited resources
Apr 11, 2024
In a market with buyers and sellers, it is possible that two buyers are both trying to purchase the same commodity, but there is not enough supply for both of them. There needs to be some mechanic to resolve this, and determine who gets access to that supply.
A simple way to think about this is some sort of bidding system, through which agents check their financial constraints and make bids on the limited commodity, with the higher bid winning.
The text was updated successfully, but these errors were encountered: