Recurrence of a modified random walk and its application to an economic model

A modification of Chung and Fuchs’ (Mem. Amer. Math. Soc., 6 (1951), pp. 1-12) recurrence theorem for random walks leads to an analogous result for a different discrete parameter Markov process. This latter process is applicable to an analysis of price stabilization programs involving purchases and sales from a buffer stock.

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Year of publication:	1981-02
Authors:	Salant, Stephen W. ; Wenocur, Roberta S.

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Type of publication:	Book / Working Paper
Language:	English
Notes:	Salant, Stephen W. and Wenocur, Roberta S. (1981): Recurrence of a modified random walk and its application to an economic model. Published in: Siam Journal of Applied Mathematics , Vol. Vol. 4, No. No. 1 : pp. 163-166.
Classification:	Q28 - Government Policy ; N5 - Agriculture, Natural Resources, Environment, and Extractive Industries
Source:	BASE

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