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Schenk-Hoppé, Klaus Reiner

Random dynamical systems in economics. (English) Zbl 1064.91060

Stoch. Dyn. 1, No. 1, 63-83 (2001).
Summary: 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.

Cited in 4 Documents

MSC:

91B62 Economic growth models
91B70 Stochastic models in economics
37H99 Random dynamical systems
37N40 Dynamical systems in optimization and economics
90C15 Stochastic programming

Keywords:

Random dynamical systems; dynamic economic models; stochastic economic growth
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References:

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