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 exploits the regenerative property of the process in order to achieve rapid coupling.

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Year of publication:	2014-02-25
Authors:	Kamihigashi, Takashi ; Stachurski, John
Institutions:	Institut de Préparation à l'Administration et à la Gestion (IPAG)
Subject:	Regeneration \| simulation \| coupling from the past \| perfect sampling

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 2014-144 15 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010754830