A 'Dual'-Improved Shortcut to the Long Run

Kareen Rozen ()

Working Papers from Yale University, Department of Economics

Abstract: I use the theories of duality and optimal branchings to find a necessary and sufficient characterization of stochastically stable limit sets (SSLS) that helps improve the radius-modified coradius test of Ellison (2000). The improved shortcut I offer may permit the identification of SSLS when Ellison's radius-modified coradius test fails to identify any, or may be able to pinpoint the true SSLS in cases where Ellison's test identifies only a superset. I also demonstrate precisely why the radius-modified coradius test is not universally applicable and illuminate the connection between the modified coradius and the Lagrange multipliers of the optimal branching problem.

JEL-codes: C73 (search for similar items in EconPapers)
Date: 2008-03
New Economics Papers: this item is included in nep-gth
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Citations: View citations in EconPapers (1)

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Working Paper: A ‘Dual’-Improved Shortcut to the Long Run (2008)
Working Paper: A ‘Dual’-Improved Shortcut to the Long Run (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:ecl:yaleco:41

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