RANDOM DYNAMICAL SYSTEMS IN ECONOMICS
Open Access
- 1 March 2001
- journal article
- Published by World Scientific Pub Co Pte Ltd in Stochastics and Dynamics
- Vol. 1 (1) , 63-83
- https://doi.org/10.1142/s0219493701000059
Abstract
This paper surveys recent advances in the application of random dynamical systems theory in economics. It illustrates the usefulness of this framework for modeling and analysis of economic phenomena with stochastic components, mainly focusing on stochastic dynamic models of economic growth. The paper also highlights some directions for further applications and interdisciplinary research on random dynamical systems.Keywords
This publication has 21 references indexed in Scilit:
- An Evolutionary Model of Bertrand OligopolyGames and Economic Behavior, 2000
- Evolution with State-Dependent MutationsEconometrica, 1996
- Stationary Markov EquilibriaEconometrica, 1994
- Learning, Mutation, and Long Run Equilibria in GamesEconometrica, 1993
- Stochastic Monotonicity and Stationary Distributions for Dynamic EconomiesEconometrica, 1992
- Temporary General Equilibrium TheoryEconometrica, 1977
- Stochastic processes of temporary equilibriaJournal of Mathematical Economics, 1974
- Optimal economic growth and uncertainty: The discounted caseJournal of Economic Theory, 1972
- The Role of Securities in the Optimal Allocation of Risk-bearingThe Review of Economic Studies, 1964
- On the Notion of Equilibrium and DisequilibriumThe Review of Economic Studies, 1936