Growth Patterns of Two Types of Macro-Models: Limiting Behavior of One-and Two-Parameter Poisson-Dirichlet Models
This paper uses novel growth models composed of clusters of heterogeneous agents,and shows that limiting behavior of one-and two-parameter Poisson-Dirichlet models are qualitatively very different. As model sizes grow unboundedly, the coefficients of variations of extensive variables, such as the number of total clusters, and the numbers of clusters of specified sizes all approach zero in the one-parameter models, but not in the two-parameter models. In the calculations of the coefficients of variations Mittag-Le?er distributions arise naturally. We show that the distributions of the numbers of the clusters in the models havepower-lawbehavior.
|Date of creation:||Oct 2006|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.cirje.e.u-tokyo.ac.jp/index.html
More information through EDIRC
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.:
- Aoki,Masanao & Yoshikawa,Hiroshi, 2007. "Reconstructing Macroeconomics," Cambridge Books, Cambridge University Press, number 9780521831062.
- Scalas, Enrico, 2006. "The application of continuous-time random walks in finance and economics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 362(2), pages 225-239.
- Sutton, John, 2002. "The variance of firm growth rates: the ‘scaling’ puzzle," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 312(3), pages 577-590.
When requesting a correction, please mention this item's handle: RePEc:tky:fseres:2006cf446. 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: (CIRJE administrative office)
If references are entirely missing, you can add them using this form.