On a Markov process generated by non-decreasing concave functions

Joseph A. Yahav

Stochastic Processes and their Applications, 1976, vol. 4, issue 1, 41-54

Abstract: A discrete-time Markov process on [0, [infinity]) is considered. The process is generated by selecting at each time, in an independent and stationary way, a concave non-decreasing function. Sufficient conditions for the existence of a unique stationary limiting distribution are given.

Keywords: Markov; process; stationary; distribution; limiting; distribution; continuous; state; space; fixed; point; concave; functions (search for similar items in EconPapers)
Date: 1976
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