Stochastic Stability of Monotone Economies in Regenerative Environments
Probability
2022-02-22 v6
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.
Keywords
Cite
@article{arxiv.1409.2286,
title = {Stochastic Stability of Monotone Economies in Regenerative Environments},
author = {Sergey Foss and Vsevolod Shneer and Jonathan P. Thomas and Tim Worrall},
journal= {arXiv preprint arXiv:1409.2286},
year = {2022}
}
Comments
25 pages