Kaniovski, Yuri M. - In: Journal of Evolutionary Economics 10 (2000) 5, pp. 545-555
The stationary distribution of a birth and death process may not be approximated by a diffusion. The general situation is illustrated on the "musical chairs" model by Binmore et al. (1995). <p>This model is shown to generate outcomes which are not captured by the concept of the ultralong run...</p>
