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Random Dynamical Systems: Theory and Applications

By Rabi Bhattacharya, Mukul Majumdar
Paperback
$70.00
By Rabi Bhattacharya, Mukul Majumdar
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This treatment provides an exposition of discrete time dynamic processes evolving over an infinite horizon. Chapter 1 reviews some mathematical results from the theory of deterministic dynamical systems, with particular emphasis on applications to economics. The theory of irreducible Markov processes, especially Markov chains, is surveyed in Chapter 2. Equilibrium and long run stability of a dynamical system in which the law of motion is subject to random perturbations is the central theme ...