An Order-Theoretic Mixing Condition for Monotone Markov Chains

Takashi Kamihigashi and John Stachurski ()

ANU Working Papers in Economics and Econometrics from Australian National University, College of Business and Economics, School of Economics

Abstract: 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.

New Economics Papers: this item is included in nep-cis and nep-ecm
Date: 2011-10
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Related works:
Journal Article: An order-theoretic mixing condition for monotone Markov chains (2012)
Working Paper: An Order-Theoretic Mixing Condition for Monotone Markov Chains (2011)
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Persistent link: http://EconPapers.repec.org/RePEc:acb:cbeeco:2011-559

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