Aebi, Robert; Neusser, Klaus; Steiner, Peter (December 2005). A Large Deviation Approach to the Measurement of Mobility (Discussion Papers 05-18). Bern: Department of Economics
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We propose an approach to measure the mobility immanent in regular Markov processes. For this purpose, we distinguish between mobility in equilibrium and mobility associated with convergence towards equilibrium. The former aspect is measured as the expectation of a functional, defined on the Cartesian square product of the state space, with respect to the invariant distribution. Based on large deviations techniques, we show how the two aspects of mobility are related and how the second one can be characterized by a certain relative entropy. Finally, we show that some prominent mobility indices can be considered as special cases.
Item Type: |
Working Paper |
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Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics |
UniBE Contributor: |
Neusser, Klaus, Steiner, Peter |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
Series: |
Discussion Papers |
Publisher: |
Department of Economics |
Language: |
English |
Submitter: |
Lars Tschannen |
Date Deposited: |
02 Oct 2020 08:00 |
Last Modified: |
05 Dec 2022 15:39 |
JEL Classification: |
C22, J62 |
BORIS DOI: |
10.7892/boris.145682 |
URI: |
https://boris.unibe.ch/id/eprint/145682 |
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