  Applying any strategy requires some knowledge about the past state of the
system. Unfortunately in the case of economy collecting information is a
difficult, expensive and time consuming process. Therefore the information
about the system is known at the end of some well defined intervals, e. g.
company reports, inflation data, GDP etc. They describe a (market) situation in
the past. The time delay is specific to the market branch. It can be very short
(e.g. stock market offer is updated every minute or so and this information is
immediately available) or long, like months in the case of agricultural market,
when the decisions are taken based on the results from the previous harvest.
  The analysis of the information flow delay can be based on the ACP model of
spatial evolution of economic systems. The entities can move on a square
lattice and when meeting take one of the two following decisions: merge or
create a new entity. The decision is based on the system state, which is known
with some time delay. The effect of system's feedback is investigated. We
consider the case of company distribution evolution in a heterogenous field.
The information flow time delay implies different final states, including
cycles.
