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150324s1992 xx |||||o 00| ||eng c |
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|a 10.2307/2951526
|2 doi
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|a (DE-627)JST028833589
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|a (JST)2951526
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|a DE-627
|b ger
|c DE-627
|e rakwb
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|a eng
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1 |
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|a Hopenhayn, Hugo A.
|e verfasserin
|4 aut
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|a Stochastic Monotonicity and Stationary Distributions for Dynamic Economies
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|c 1992
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| 336 |
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|a Text
|b txt
|2 rdacontent
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|a Computermedien
|b c
|2 rdamedia
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|a Online-Ressource
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|2 rdacarrier
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|a The existence and stability of invariant distributions for stochastically monotone processes is studied. The Knaster-Tarski fixed point theorem is applied to establish existence of fixed points of mappings on compact sets of measures that are increasing with respect to a stochastic ordering. Global convergence of a monotone Markov process to its unique invariant distribution is established under an easily verified assumption. Topkis' theory of supermodular functions is applied to stochastic dynamic optimization, providing conditions under which optimal stationary decisions are monotone functions of the state and induce a monotone Markov process. Applications of these results to investment theory, stochastic growth, and industry equilibrium dynamics are given.
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|a Copyright 1992 Econometric Society
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| 650 |
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|a Stationary distributions
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| 650 |
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|a fixed points
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| 650 |
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|a monotone functions
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| 650 |
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|a stochastic dynamic programming
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| 650 |
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4 |
|a stochastic growth theory
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| 650 |
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4 |
|a investment theory
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| 650 |
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4 |
|a Mathematics
|x Pure mathematics
|x Probability theory
|x Random variables
|x Stochastic processes
|x Markov processes
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| 650 |
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4 |
|a Mathematics
|x Mathematical analysis
|x Mathematical monotonicity
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| 650 |
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4 |
|a Philosophy
|x Metaphilosophy
|x Western philosophy
|x Continental philosophy
|x Structuralism
|x Conceptual structures
|x Conceptual lattices
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| 650 |
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4 |
|a Mathematics
|x Mathematical expressions
|x Mathematical functions
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| 650 |
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4 |
|a Economics
|x Economic disciplines
|x Financial economics
|x Finance
|x Financial instruments
|x Financial securities
|x Capital stocks
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| 650 |
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4 |
|a Economics
|x Economic theory
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| 650 |
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4 |
|a Philosophy
|x Logic
|x Logical topics
|x Formal logic
|x Mathematical logic
|x Mathematical set theory
|x Mathematical sets
|x Partially ordered sets
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| 650 |
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4 |
|a Behavioral sciences
|x Psychology
|x Cognitive psychology
|x Cognitive processes
|x Decision making
|x Optimal policy
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| 650 |
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4 |
|a Social sciences
|x Development studies
|x Development economics
|x Economic development
|x Economic growth
|x Economic growth theories
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| 650 |
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|a Philosophy
|x Metaphysics
|x Ontology
|x Ontological properties
|x Uniqueness
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| 655 |
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|a research-article
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| 700 |
1 |
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|a Prescott, Edward C.
|e verfasserin
|4 aut
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| 773 |
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|i Enthalten in
|t Econometrica
|d Wiley
|g 60(1992), 6, Seite 1387-1406
|w (DE-627)270425721
|w (DE-600)1477253-X
|x 14680262
|7 nnns
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| 773 |
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|g volume:60
|g year:1992
|g number:6
|g pages:1387-1406
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|u https://www.jstor.org/stable/2951526
|3 Volltext
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|u https://doi.org/10.2307/2951526
|3 Volltext
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|a AR
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|d 60
|j 1992
|e 6
|h 1387-1406
|