On the statistical dynamics of economics Huang, Weihong

User activity

Share to:
View the summary of this work
Huang, Weihong
Appears In
Journal of Economic Behavior & Organization
Ergodic theory -- Usage; Economics; Business
To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.jebo.2004.06.009 Byline: Weihong Huang Abstract: Statistical properties are explored for typical ergodic processes in economics. A paradox has been observed - although the long-run average of a variable may converge to a constant, its average growth rate in the long-run is always non-negative so as to induce an illusion of growth. The same characteristic exists even if a dynamic process is reversed. For the chaotic and ergodic processes involving a limited growth rate mechanism, it is demonstrated that chaos may be preferred to a equilibrium in the sense that the long-run average return may be higher than the equilibrium return. Author Affiliation: School of Humanities and Social Sciences, Nanyang Technological University, Nanyang Avenue, Singapore 639798, Singapore
Work ID

2 editions of this work

Find a specific edition
Thumbnail [View as table] [View as grid] Title, Author, Edition Date Language Format Libraries

User activity

e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this work

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this work

Add a comment

Show comments and reviews from Amazon users