Booms and Busts in Chinese Agricultural Markets: An Agent-Based Model

Figure 3

Intervention results of the government-guidance price policy. The figures show the average market fraction of speculators (weight S) and average price volatilities under different proportions of producers following government-guided price (parameter h). (a): The average market fraction of speculators is barely affected by the parameter h. (b): More producers following the government-guided price help to reduce price volatility.

(a)

(b)