A Large Deviation Approach to the Measurement of Mobility
Klaus Neusser () and
Diskussionsschriften from Universitaet Bern, Departement Volkswirtschaft
We propose an approach to measure the mobility immanent in regular Markov processes. For this purpose, we distinguish between mobility in equilibrium and mobility associated with convergence towards equilibrium. The former aspect is measured as the expectation of a functional, defined on the Cartesian square product of the state space, with respect to the invariant distribution. Based on large deviations techniques, we show how the two aspects of mobility are related and how the second one can be characterized by a certain relative entropy. Finally, we show that some prominent mobility indices can be considered as special cases.
Keywords: mobility index; large deviations; relative entropy (search for similar items in EconPapers)
JEL-codes: C22 J62 (search for similar items in EconPapers)
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Journal Article: A Large Deviation Approach to the Measurement of Mobility (2006)
Working Paper: A Large Deviation Approach to the Measurement of Mobility (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:ube:dpvwib:dp0518
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