Perfect Simulation for Models of Industry Dynamics
AbstractIn 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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Bibliographic InfoPaper provided by Research Institute for Economics & Business Administration, Kobe University in its series Discussion Paper Series with number DP2014-09.
Length: 15 pages
Date of creation: Mar 2014
Date of revision:
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Regeneration; Simulation; Coupling from the past; Perfect sampling;
Other versions of this item:
- Takashi Kamihigashi & John Stachurski, 2014. "Perfect Simulation for Models of Industry Dynamics," Working Papers 2014-144, Department of Research, Ipag Business School.
- NEP-ALL-2014-04-11 (All new papers)
- NEP-CMP-2014-04-11 (Computational Economics)
- NEP-GER-2014-04-11 (German Papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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