Topological entropy of policy functions in concave dynamic optimization models

Article Abstract:

The topological entropy of the optimal policy function of a concave dynamic program is affected by the existence of discount factors. The complicated dynamic results of models that use minimal discount factors proves the superiority of the concept over other models measures the complexity of optimal growth patterns. Moreover, the model deviates from other models that ignore the existing properties that indicates smoothness of optimal policy functions.

Economic aspects, Entropy (Information theory), Mathematical optimization, Optimization theory, Topological dynamics

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Additivity with multiple priors

Article Abstract:

The additivity of the 'min' expected utility functional was investigated. The types of functions over which additivity of the min functional is preserved were also characterized. It is widely accepted in economics that such a functional violates the additivity of the expectations operator. The additivity of the 'min' functional is preserved when positive integrating functions affine transformations of each other, or when one function is constant.

Econometrics & Model Building, Models, Econometrics, Random walks (Mathematics), Random walk theory, Rational expectations (Economics), Functional analysis, Business models, Utility theory, Utility functions, Integrals

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Subcalculus for set functions and cores of TU games

Article Abstract:

Mathematical economics makes wide use of general set functions. This paper offers a subcalculus of general set functions, using this framework to research the core of transferable utility (TU) games.

Italy, Science & research, Labor Distribution by Employer, Statistics, Economic research, Game theory, Mathematical research

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