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《Journal of Shanghai Jiaotong University》 1991-02
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Research on Model of Shortage Economy with Hoarding Behavior

Chen Hongmin Wang Huanchen  
In this paper,we study some essential charateristics of shortageeconomy and the effect of people's hoarding behavior on it.Firstly,we builda model of shortage economy under adjustment without price,revealing themain reason and the dynamic process of ceaseless regeneration of shortage.Secondly,by introducing hoarding behavior into the model,we study theformation of hoarding with the damage it causes to the fluctuation of shor-tage.Then,a model of shortage economy under adjustment in the presenceof prices is built to describe our changing economic system which combinesthe traditional system with some of market functions,to show some chara-cteristics of the system and the specific problems which should be concentr-ated on in our economic reform.Finally,expanded the model with hoardingbehavior,we give a brief view of dynamic process of how the people'shoarding behavior encourages price rise and strengthens fluctuation ofeconomy.
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