Generalized Urn Schemes and Technological Dynamics

Dosi, G., Ermoliev, Y.M., & Kaniovski, Y.M. (1994). Generalized Urn Schemes and Technological Dynamics. IIASA Research Report (Reprint). IIASA, Laxenburg, Austria: RR-94-011. Reprinted from Journal of Mathematical Economics, 23:1-19 [1994].

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The paper deals with a class of stochastic models of technological diffusion based on so-called generalized urn schemes. The models exhibit non-ergodic limit behavior. In contrast to existing models based on urn schemes, the initial state influences not only the limit of the shape distribution, but also the support of this distribution. The authors consider the case of strategic price manipulation that can be applied to other cases, for example, models of bargaining.

The study concentrates on one of the three major directions of the TED project, namely, modeling of macroeconomic issues.

Item Type: Monograph (IIASA Research Report (Reprint))
Research Programs: Technological and Economic Dynamics (TED)
Bibliographic Reference: Reprinted from Journal of Mathematical Economics; 23:1-19 [1994]
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 02:04
Last Modified: 27 Aug 2021 17:14

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