EconPapers    
Economics at your fingertips  
 

- DYNAMICAL SYSTEMS WITH A CONTINUUM OF RANDOMLY MATCHED AGENTS

Carlos Alós-Ferrer

Working Papers. Serie AD from Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie)

Abstract: Many models postulate a continuum of agents of finitely many different types who are repeatedly randomly matched in pairs to perform certain activities (e.g. play a game) which may in turn make their types change. The random matching process is usually left unspecified, and some Law of Large Numbers is informally invoked to justify a deterministic approximation of the resulting stochastic system. Nevertheless, it is well-know that such laws of large numbers may not hold in this framework. This work shows that there exist random matching processes over a continuum of agents satisfying properties which are sufficient to simplify the analysis of the stochastic system. Moreover, the evolution of the population frequencies of types induced by this system can be described (almost surely) through a set of deterministic equations.

Keywords: evolution; random matching; law of large numbers (search for similar items in EconPapers)
Pages: 31 pages
Date: 1998-04
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Published by Ivie

Downloads: (external link)
http://www.ivie.es/downloads/docs/wpasad/wpasad-1998-08.pdf Fisrt version / Primera version, 1998 (application/pdf)

Related works:
Journal Article: Dynamical Systems with a Continuum of Randomly Matched Agents (1999) Downloads
Working Paper: Dynamic Systems with a Continuum of Randomly Matched Agents (1998)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ivi:wpasad:1998-08

Access Statistics for this paper

More papers in Working Papers. Serie AD from Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) Contact information at EDIRC.
Bibliographic data for series maintained by Departamento de Edición (edicion@ivie.es).

 
Page updated 2024-12-28
Handle: RePEc:ivi:wpasad:1998-08