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Equilibrium Mobility

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Author Info
Robert Aebi
Klaus Neusser
Peter Steiner

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Abstract

This paper proposes to measure the mobility of a stochastic process as the expected value of a "mobility functional" with respect to its stationary distribution. The mobility functional thereby measures the valuation of movements between states. We not only highlight the conceptual advantages of our approach, but also show how this so-called "equilibrium mobility index" relates to the axiomatic approach by Fields and Ok (7) and the approach based on monotone transition matrices by Conlisk (4) and Dardanoni (5))

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Paper provided by Universitaet Bern, Departement Volkswirtschaft in its series Diskussionsschriften with number dp0408.

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Date of creation: May 2004
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Handle: RePEc:ube:dpvwib:dp0408

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Related research
Keywords: Mobility indices; mobility functional; equilibrium mobility;

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Find related papers by JEL classification:
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions
J62 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Job, Occupational and Intergenerational Mobility; Promotion

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  1. Fields, Gary S. & Ok, Efe A., 1996. "The Meaning and Measurement of Income Mobility," Journal of Economic Theory, Elsevier, vol. 71(2), pages 349-377, November. [Downloadable!] (restricted)
  2. Robert Aebi & Klaus Neusser & Peter Steiner, 2005. "A Large Deviation Approach to the Measurement of Mobility," Diskussionsschriften dp0518, Universitaet Bern, Departement Volkswirtschaft. [Downloadable!]
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  3. Fields, Gary S. & Ok, Efe A., 1996. "The Measurement of Income Mobility: An Introduction to the Literature," Working Papers 96-05, C.V. Starr Center for Applied Economics, New York University. [Downloadable!]
  4. Dardanoni Valentino, 1993. "Measuring Social Mobility," Journal of Economic Theory, Elsevier, vol. 61(2), pages 372-394, December. [Downloadable!] (restricted)
  5. Geweke, John & Marshall, Robert C & Zarkin, Gary A, 1986. "Mobility Indices in Continuous Time Markov Chains," Econometrica, Econometric Society, vol. 54(6), pages 1407-23, November. [Downloadable!] (restricted)
  6. Tapan Mitra & Efe A. Ok, 1998. "The measurement of income mobility: A partial ordering approach," Economic Theory, Springer, vol. 12(1), pages 77-102. [Downloadable!] (restricted)
  7. Shorrocks, A F, 1978. "The Measurement of Mobility," Econometrica, Econometric Society, vol. 46(5), pages 1013-24, September. [Downloadable!] (restricted)
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This page was last updated on 2009-12-6.

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