A multinomial probit model of stochastic evolution

Article Abstract:

A strategy revision process in symmetric normal form games is proposed. Members of a population periodically revise their strategy choice, and choose a myopic best response to currently observed play. Their payoffs are perturbed by normally distributed Harsanyian trembles, so that strategies are chosen according to multinomial probit probabilities.

Economics, Economic theory

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Small noise asymptotics for a stochastic growth model

Article Abstract:

The analytic asymptotic methods to characterize time-series properties of nonlinear dynamic stochastic models are developed and discussed. It resulted in characterizing the model economy, both in terms of its average behavior and its occasional large cyclical fluctuations.

Consumer Behavior, Models, Consumer behaviour

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Deterministic versus stochastic mechanisms in principal-agent models

Article Abstract:

Implications of stochastic and deterministic mechanisms of principal-agent models are examined.

Analysis, Stochastic processes, Determinants, Econometric models, Determinants (Mathematics)

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