Random Dynamical Systems in Economics

Klaus Reiner Reiner Schenk-Hoppé
2002 Social Science Research Network  
This paper surveys recent advances in the application of random dynamical systems theory in economics. It illustrates the usefulness of this framework for modeling and analysis of economic phenomena with stochastic components, mainly focusing on stochastic dynamic models in economic growth. The paper also highlights some directions for further applications and interdisciplinary research on random dynamical systems.
doi:10.2139/ssrn.259135 fatcat:kte4dxkkyzah7ncs6y26nzi4j4