haku: @indexterm System dynamics / yhteensä: 80
viite: 21 / 80
Tekijä: | Bala, V. |
Otsikko: | Reconstructing dynamics from intertemporal economic data |
Lehti: | Economic Theory
1997 : FEB, VOL. 10:2, p. 325-339 |
Asiasana: | SYSTEM DYNAMICS ECONOMIC SYSTEMS |
Kieli: | eng |
Tiivistelmä: | This article studies the relationsip between a continuous dynamical system and the trajectory generated by the same system. The result provides sufficient and necessary conditions for an infinite data stream to be rationalized as the output of a continuous law of motion. Concepts of informativeness of a given set of intertemporal data is demonstrated, and it is shown that informativeness is maximal when the data is chaotic. With probability one of the sample paths from a non-trivial independent and identically distributed stochastic process cannot be rationalized as the output of a continuous deterministic system. The article gives also an application concerning the recovery of the excess demand function from a sequence of price observations from the tatonnement process. |
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