Abstract
The price fluctuation of commodities affects their demand, and it strongly influences the development of industry and the stability of the international economy. A price-output model with two price-dependent impulses is presented in this paper to describe their mutual restrictions and the price adjustment strategies. The equilibria and dynamic properties of the impulsive-free price-output model are qualitatively analyzed, and the results show the hazard of free price fluctuation. For the price-output model with two price-dependent impulses, conditions for the existence of the order-2 periodic solution are obtained, and the orbital asymptotic stability is proved. Those results reveal the positive role of price adjustment strategies. Finally, some numerical simulations are carried out to verify the theoretical results.
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