@inproceedings{4245271989b44e41ae141d19df98383f,
title = "An analysis for monopoly premium and consumer welfare in the gasoline market of China: Results from a multi-agent model",
abstract = "Since 1998, the pricing mechanism of China refined oil market has reformed four times. Market pricing will be the future trend. This paper uses the method of agent-based computational economics to construct a free gasoline market model. By simulations of the gasoline market at different levels of crude oil price, a quadratic equation which can describe the survival rate of consumers is obtained. Based on a dummy variable model, we find that when the decisions of consumers are constrained by their income, the margin impacts of crude oil price, income and rigid demand on consumer welfares become smaller.",
keywords = "Belief learning, Gasoline market, Income constraints, Rigid demand, Simulations based on multi-agent",
author = "Ronggang Cong",
year = "2010",
doi = "10.1109/BMEI.2010.5639632",
language = "English",
isbn = "9781424464968",
series = "Proceedings - 2010 3rd International Conference on Biomedical Engineering and Informatics, BMEI 2010",
pages = "2884--2892",
booktitle = "Proceedings - 2010 3rd International Conference on Biomedical Engineering and Informatics, BMEI 2010",
note = "3rd International Conference on BioMedical Engineering and Informatics, BMEI 2010 ; Conference date: 16-10-2010 Through 18-10-2010",
}