Logo image
A comparison of diffusion approximations and actual limits in birth and death processes of noisy evolution
Journal article   Peer reviewed

A comparison of diffusion approximations and actual limits in birth and death processes of noisy evolution

Y Kaniovski
Journal of Evolutionary Economics, Vol.10, pp.545-555
10
2000
Handle:
https://hdl.handle.net/10863/26941

Abstract

The stationary distribution of a birth and death process may not be approximated by a diffusion. The general situation is illustrated on the "musical chairs" model by Binmore et al. (1995). This model is shown to generate outcomes which are not captured by the concept of the ultralong run equilibrium selection introduced in Binmore et al. (1995).
url
https://doi.org/10.1007/s001910000051View

Details

Metrics

12 Record Views