Stochastic stability of monotone economies in regenerative environments

A-Tier
Journal: Journal of Economic Theory
Year: 2018
Volume: 173
Issue: C
Pages: 334-360

Authors (4)

Foss, Sergey (not in RePEc) Shneer, Vsevolod (not in RePEc) Thomas, Jonathan P. (University of Edinburgh) Worrall, Tim (University of Edinburgh)

Score contribution per author:

1.005 = (α=2.01 / 4 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We introduce and analyze a new class of monotone stochastic recursions in a regenerative environment which is essentially broader than that of Markov chains. We prove stability theorems and apply our results to three canonical models in recursive economics, generalizing some known stability results to the cases when driving sequences are not independent and identically distributed.

Technical Details

RePEc Handle
repec:eee:jetheo:v:173:y:2018:i:c:p:334-360
Journal Field
Theory
Author Count
4
Added to Database
2026-01-29