cobweb model (English, noun)
expansion: cobweb model (plural cobweb models)
Senses:
topics: economics
sciences
glosses: An economic model that ascribes the periodic price fluctuations in certain types of market to cyclical supply and demand where the amount produced must be chosen before prices are observed, and producers' expectations about prices are assumed to be based on observations of previous prices.
Forms:
form: cobweb models
tags: plural