Abstract for: System Dynamics Modeling of Psychological Factors in the Korean pollak (Gadus chalcogrammus) Market
This study aims to forecast the impact of international environmental changes, particularly the psychological factors of suppliers, on fluctuations in domestic seafood wholesale prices, with a focus on pollack. To analyze this impact, the study employs the System Dynamics(SD) modeling method to simulate future price changes of pollack in Korea and explore various scenarios concerning how psychological factors, such as suppliers' expectations of excessive profits, impact wholesale price changes. Based on the analysis results, policy implications will be proposed to enhance seafood supply and price stability. The study contributes to the academic field by emphasizing behavioral patterns rooted in psychology, which econometric approaches have not addressed in studies on the interaction between supply and price in inelastic markets.