Perfect simulation for models of industry dynamics
In this paper we introduce a technique for perfect simulation from the stationary distribution of a standard model of industry dynamics. The method can be adapted to other, possibly non-monotone, regenerative processes found in industrial organization and other fields of economics. The algorithm we propose is a version of coupling from the past. It is straightforward to implement and exploit the regenerative property of the process in order to achieve rapid coupling.
|Collections||ANU Research Publications|
|Source:||Journal of Mathematical Economics|
|Access Rights:||Open Access|
|Kamihigashi et al Perfect simulation for models 2014.pdf||245.33 kB||Adobe PDF|
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