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Stochastic equilibrium: Concepts and computations for Lindley processes

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  • Sarah Iams
  • Mukul Majumdar

Abstract

This paper deals with the question of estimating an invariant distribution of Lindley processes using simulation techniques. The results are of interest in problems of resource management with supply‐side uncertainty and constant harvesting.

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  • Sarah Iams & Mukul Majumdar, 2010. "Stochastic equilibrium: Concepts and computations for Lindley processes," International Journal of Economic Theory, The International Society for Economic Theory, vol. 6(1), pages 47-56, March.
    • Handle: RePEc:bla:ijethy:v:6:y:2010:i:1:p:47-56
    DOI: 10.1111/j.1742-7363.2009.00121.x
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    References listed on IDEAS

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    1. Phoebe Koundouri, 2004. "Current Issues in the Economics of Groundwater Resource Management," Journal of Economic Surveys, Wiley Blackwell, vol. 18(5), pages 703-740, December.
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