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 |
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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: |
14 Sep 2020 10:16 |
Last Modified: |
05 Dec 2022 15:39 |
JEL Classification: |
C220, J620 |
BORIS DOI: |
10.7892/boris.145640 |
URI: |
https://boris.unibe.ch/id/eprint/145640 |
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