Stochastic stability in monotone economies
将单调经济稳定性定理推广到更广泛模型,给出平稳分布存在、唯一和稳定的充要条件,并引入弱混合条件,为理解稳定性的本质提供新见解。
This paper extends a family of well-known stability theorems for monotone economies to a significantly larger class of models. We provide a set of general conditions for existence, uniqueness and stability of stationary distributions when monotonicity holds. The conditions in our main result are both necessary and sufficient for global stability of monotone economies that satisfy a weak mixing condition introduced in the paper. Through our analysis we develop new insights into the nature and causes of stability and instability.