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An Order-Theoretic Mixing Condition for Monotone Markov Chains

  • Takashi Kamihigashi

    ()

  • John Stachurski

    ()

We discuss stability of discrete-time Markov chains satisfying monotonicity and an order-theoretic mixing condition that can be seen as an alternative to irreducibility. A chain satisfying these conditions has at most one stationary distribution. Moreover, if there is a stationary distribution, then the chain is stable in an order-theoretic sense.

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File URL: https://www.cbe.anu.edu.au/researchpapers/econ/wp559.pdf
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Paper provided by Australian National University, College of Business and Economics, School of Economics in its series ANU Working Papers in Economics and Econometrics with number 2011-559.

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Length: 177Kb
Date of creation: Oct 2011
Date of revision:
Handle: RePEc:acb:cbeeco:2011-559
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  1. Hopenhayn, Hugo A & Prescott, Edward C, 1992. "Stochastic Monotonicity and Stationary Distributions for Dynamic Economies," Econometrica, Econometric Society, vol. 60(6), pages 1387-406, November.
  2. repec:cup:cbooks:9780521825658 is not listed on IDEAS
  3. Takashi Kamihigashi & John Stachurski, 2009. "Asymptotics Of Stochastic Recursive Economies Under Monotonicity," KIER Working Papers 666, Kyoto University, Institute of Economic Research.
  4. John Stachurski, 2009. "Economic Dynamics: Theory and Computation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262012774, June.
  5. repec:cup:cbooks:9780521532723 is not listed on IDEAS
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