Random Dynamical Systems: Theory And Applications by Rabi BhattacharyaRandom Dynamical Systems: Theory And Applications by Rabi Bhattacharya

Random Dynamical Systems: Theory And Applications

byRabi Bhattacharya, Mukul Majumdar

Paperback | January 8, 2007

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This treatment provides an exposition of discrete time dynamic processes evolving over an infinite horizon. Chapter 1 reviews some mathematical results from the theory of deterministic dynamical systems, with particular emphasis on applications to economics. The theory of irreducible Markov processes, especially Markov chains, is surveyed in Chapter 2. Equilibrium and long run stability of a dynamical system in which the law of motion is subject to random perturbations is the central theme of Chapters 3-5. A unified account of relatively recent results, exploiting splitting and contractions, that have found applications in many contexts is presented in detail. Chapter 6 explains how a random dynamical system may emerge from a class of dynamic programming problems. With examples and exercises, readers are guided from basic theory to the frontier of applied mathematical research.
Mukul Majumdar is H. T. and R. I. Warshow Professor of Economics at Cornell University. He has also taught at Stanford University and the London School of Economics. Professor Majumdar is a Fellow of the Econometric Society and has been a Guggenheim Fellow, a Ford Rotating Research at the University of California, Berkeley, an Erskine ...
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Title:Random Dynamical Systems: Theory And ApplicationsFormat:PaperbackDimensions:480 pages, 8.98 × 5.98 × 0.94 inPublished:January 8, 2007Publisher:Cambridge University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0521532728

ISBN - 13:9780521532723

Reviews

Table of Contents

1. Dynamical systems; 2. Markov processes; 3. Random dynamical systems; 4. Random dynamical systems: special structures; 5. Invariant distributions: estimations and computation; 6. Discounted dynamic programming under uncertainty; 7. Appendix.

Editorial Reviews

"This book is very well written and it is a clear synthesis of the theory of discrete time dynamical processes with many applications to economics. In particular, the book contains a large number of examples and exercises, which in my opinion, make it a useful guide for students and also for researchers."
Maria J. Garrido-Atienza, Mathematical Reviews