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Price Discovery

Applies the hill-climbing structure to model the process of price discovery in a market where the market makers do not know the demand and supply curves of market participants.  Provides a basic model of disequilibrium price adjustment.  See section 13.2.12.
This AnyLogic model is based on materials from the book "Business Dynamics: Systems Thinking and Modeling for a Complex World" by John Sterman, (c) 2000 McGraw Hill.

The model was created with AnyLogic - simulation software / Market modeling