Distributional dynamics of cautious economic adjustment processes

作者：Huang Weihong^*; Zhang Yang

来源：Journal of Economic Behavior & Organization, 2007, 62(3): 389-407.

DOI：10.1016/j.jebo.2005.07.008

• chaos
• ergodic system
• nonlinear dynamics
• cautious strategy
• invariant density
• distributional dynamics

A class of discrete dynamical processes defined by x(t+1) = min{alpha x(1), theta(x(1))}, where alpha > 1 and theta is a monotonically continuous decreasing function, has frequently appeared in economic analysis. The process is studied theoretically and numerically. The types of invariant density that can be generated by such processes are identified and the approach for the construction of such processes analytically with specified invariant densities are provided. Finally, the relationship between the second-order derivative of the right-branch 0 and the shape of invariant density is addressed.

• 出版日期2007-3
• 单位南阳理工学院