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Stochastic optimal growth with a non-compact space

Zhang, Yuzhe (contributor) - 2005

"This paper studies the stability of a stochastic optimal growth economy introduced by Brock and Mirman [J. Econ. Theory 4 (1972)] by utilizing stochastic monotonicity in a dynamic system. The construction of two boundary distributions leads to a new method of studying systems with noncompact...

Persistent link: https://www.econbiz.de/10003223687