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Long-run Behavior of Macroeconomic Models with Heterogeneous Agents: Asymptotic Behavior of One- and Two-Parameter Poisson-Dirichlet Distributions

  • Masanao Aoki

    (Department of Economics, University of California, Los Angeles)

This paper discusses a symptotic behavior of one-and two-parameter Poisson-Dirichlet models, that is, Ewens models and its two parameter extensions by Pitman, and show that their a symptotic behavior arevery different. The paper shows asymptotic properties of a class of one-and two-parameter Poisson-Dirichlet distribution models are drastically different. Convergence behavioris expressedin termsof generalized Mittag-Leffler distributions in the statistics literature. The coefficients of variations of suitably normalized number of clusters andof clusters of specific sizesdo not vanish in the two-parameter version, but they do in one-parameter Ewens models.

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File URL: http://www.cirje.e.u-tokyo.ac.jp/research/dp/2006/2006cf425.pdf
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Paper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-425.

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Length: 15pages
Date of creation: May 2006
Date of revision:
Handle: RePEc:tky:fseres:2006cf425
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  1. De Fabritiis, Gianni & Riccaboni, Massimo & Pammolli, Fabio, 2003. "On Size and Growth of Business Firms," MPRA Paper 15866, University Library of Munich, Germany.
  2. Zhi-Feng Huang & Sorin Solomon, 2000. "Power, Levy, Exponential and Gaussian Regimes in Autocatalytic Financial Systems," Papers cond-mat/0008026, arXiv.org.
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