METHODS OF ECONOMIC-MATHEMATICAL MODELING УДК 330.101:338.5 JEL: A10, B52, C02, D03, D40, D50, E14 1Taras Shevchenko National University of Kyiv, Research ID : http://www.researcherid.com/rid/ THE ROLE OF DECISION-MAKING MECHANISMS IN ESTABLISHING MARKET EQUILIBRIUM The influence of decision-making mechanisms by economic agents on the establishment of market equilibrium is analyzed. In particular, the problem of determining the equilibrium price for incomplete information about the product and when consumer behavior is not rational is examined. Among other things, the approaches characteristic of institutional economic theory are used. Keywords:price; equilibrium; competition; market; consumer; utility function; rational behavior; optimization; irrational behavior; classical theory; institutional theory
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