A Dynamic Probabilistic Version of the Aoki-Yoshikawa Sectoral Productivity Model
In this paper, the authors explore a dynamical version of the Aoki and Yoshikawa model (AYM) for an economy driven by demand. They show that when an appropriate Markovian dynamics is taken into account, the AYM has different equilibrium distributions depending on the form of transition probabilities. In the version of the dynamic AYM presented here, transition probabilities depend on a parameter c tuning the choice of a new sector for workers leaving their sector. The solution of Aoki and Yoshikawa is recovered only in the case c = 0. All the other possible cases give different equilibrium probability distributions, including the Bose-Einstein distribution.
Volume (Year): 3 (2009)
Issue (Month): ()
|Contact details of provider:|| Postal: |
Phone: +49 431 8814-1
Fax: +49 431 8814528
Web page: http://www.economics-ejournal.org/
More information through EDIRC
References listed on IDEAS
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.:
- E. Scalas & U. Garibaldi & S. Donadio, 2007.
"Statistical equilibrium in simple exchange games I,"
The European Physical Journal B - Condensed Matter and Complex Systems,
Springer, vol. 60(2), pages 271-272, November.
- E. Scalas & U. Garibaldi & S. Donadio, 2006. "Statistical equilibrium in simple exchange games I," The European Physical Journal B - Condensed Matter and Complex Systems, Springer, vol. 53(2), pages 267-272, 09.
When requesting a correction, please mention this item's handle: RePEc:zbw:ifweej:7601. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.