Number of the records: 1  

Ramsey Stochastic Model via Multistage Stochastic Programming

  1. 1.
    0346983 - ÚTIA 2011 RIV CZ eng K - Conference Paper (Czech conference)
    Kaňková, Vlasta
    Ramsey Stochastic Model via Multistage Stochastic Programming.
    28th International Conference on Mathematical Methods in Economics 2010. Vol. Part II. České Budějovice: University of South Bohemia in České Budějovice, Faculty of Economy, 2010 - (Houda, M.; Friebelová, J.), s. 328-333. ISBN 978-80-7394-218-2.
    [28th International Conference on Mathematical Methods in Economics 2010. České Budějovice (CZ), 08.09.2010-10.09.2010]
    R&D Projects: GA ČR GAP402/10/0956; GA ČR(CZ) GA402/08/0107; GA ČR GAP402/10/1610
    Institutional research plan: CEZ:AV0Z10750506
    Keywords : Ramsey stochastic model * Multistage stochastic programming * Confidence intervals * Autoregressive sequences * Stability * Empirical estimates
    Subject RIV: AH - Economics
    http://library.utia.cas.cz/separaty/2010/E/kankova-ramsey stochastic model via multistage stochastic programming.pdf

    Ramsey model belongs to ``classical" economic dynamic models. It has been (1928)originally constructed (with a farmer interpretation)in a deterministic setting. Later this model has been generalized to a stochastic version. Time horizont in the original deterministic model as well as in modified stochastic one can be considered finite or infinite. The contribution deals with the stochastic model and finite horizont. However, in spite of the classical approach to analyze it we employ a stochastic programming technique. This approach gives a possibility to employ well known results on stability and empirical estimates also in the case of Ramsey model. However, first, we introduce some confidence intervals. To obtain the new assertions we restrict our consideration mostly to the case when the ``underlying" random element follows autoregressive (or at least Markov) sequence.
    Permanent Link: http://hdl.handle.net/11104/0187863

     
     
Number of the records: 1  

  This site uses cookies to make them easier to browse. Learn more about how we use cookies.