Perfect simulation for models of industry dynamics

Takashi Kamihigashi and John Stachurski

Journal of Mathematical Economics, 2015, vol. 56, issue C, 9-14

Abstract: In this paper we introduce a technique for perfect simulation from the stationary distribution of a standard model of industry dynamics. The method can be adapted to other, possibly non-monotone, regenerative processes found in industrial organization and other fields of economics. The algorithm we propose is a version of coupling from the past. It is straightforward to implement and exploit the regenerative property of the process in order to achieve rapid coupling.

Keywords: Regeneration; Simulation; Coupling from the past; Perfect sampling (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: Perfect Simulation for Models of Industry Dynamics (2014)
Working Paper: Perfect Simulation for Models of Industry Dynamics (2014)
Working Paper: Perfect Simulation for Models of Industry Dynamics (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:56:y:2015:i:c:p:9-14

DOI: 10.1016/j.jmateco.2014.11.004

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