Salant, Stephen W. and Wenocur, Roberta S. (1981): Recurrence of a modified random walk and its application to an economic model. Published in: Siam Journal of Applied Mathematics , Vol. Vol. 4, No. No. 1 : pp. 163-166.
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A modification of Chung and Fuchs’ (Mem. Amer. Math. Soc., 6 (1951), pp. 1-12) recurrence theorem for random walks leads to an analogous result for a different discrete parameter Markov process. This latter process is applicable to an analysis of price stabilization programs involving purchases and sales from a buffer stock.
|Item Type:||MPRA Paper|
|Original Title:||Recurrence of a modified random walk and its application to an economic model|
|Subjects:||Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q2 - Renewable Resources and Conservation > Q28 - Government Policy
N - Economic History > N5 - Agriculture, Natural Resources, Environment, and Extractive Industries
|Depositing User:||Stephen W. Salant|
|Date Deposited:||19. Oct 2008 07:40|
|Last Modified:||12. Feb 2013 22:29|
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