Equilibrium Mobility

Aebi, Robert; Neusser, Klaus; Steiner, Peter (May 2004). Equilibrium Mobility (Discussion Papers 04-08). Bern: Department of Economics

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This paper proposes to measure the mobility of a stochastic process as the expected
value of a “mobility functional” with respect to its stationary distribution. The
mobility functional thereby measures the valuation of movements between states.
We not only highlight the conceptual advantages of our approach, but also show
how this so-called “equilibrium mobility index” relates to the axiomatic approach
by Fields and Ok (7) and the approach based on monotone transition matrices by
Conlisk (4) and Dardanoni (5)).

Item Type:

Working Paper

Division/Institute:

03 Faculty of Business, Economics and Social Sciences > Department of Economics

UniBE Contributor:

Neusser, Klaus and Steiner, Peter

Subjects:

300 Social sciences, sociology & anthropology > 330 Economics

Series:

Discussion Papers

Publisher:

Department of Economics

Language:

English

Submitter:

Lars Tschannen

Date Deposited:

14 Sep 2020 10:16

Last Modified:

14 Sep 2020 10:16

JEL Classification:

C220, J620

BORIS DOI:

10.7892/boris.145640

URI:

https://boris.unibe.ch/id/eprint/145640

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