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Copy file name to clipboardExpand all lines: lectures/cobweb.md
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(cobweb)=
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# The Cobweb Model
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The cobweb model is a model of prices and quantities in a given market, and how they evolve over time.
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## Overview
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Our discussion and simulations draw on [high quality lectures](https://comp-econ.org/CEF_2013/downloads/Complex%20Econ%20Systems%20Lecture%20II.pdf) by [Cars Hommes](https://www.uva.nl/en/profile/h/o/c.h.hommes/c.h.hommes.html).
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We will use the following imports.
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```{code-cell} ipython3
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The price dynamics depend on the parameter values and also on the function $f$ that determines how producers form expectations.
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## Naive expectations
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To go further in our analysis we need to specify the function $f$; that is, how expectations are formed.
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