On the possibility of extinction in a class of Markov processes in economics

DOI10.1016/J.JMATECO.2007.01.005MaRDI QIDQ2384444zbMATH OpenOpenAlexFDO

Authors Tapan Mitra, Santanu Roy

Publication date 21 September 2007

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jmateco.2007.01.005

zbMATH Keywords

conservationextinctionMarkov processsafe standardStochastic dynamic modeltransition function

Mathematics Subject Classification ID

Economic growth models (91B62) Stochastic models in economics (91B70) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Ecology (92D40)

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Cites work

• Almost sure convergence to zero in stochastic growth models
• Dynamic efficiency of conservation of renewable resources under uncertainty.
• scientific article; zbMATH DE number 47134 (Why is no real title available?)
• scientific article; zbMATH DE number 3256930 (Why is no real title available?)
• On optimal growth under uncertainty
• Optimal exploitation of renewable resources under uncertainty and the extinction of species
• Stationary measures for some Markov chain models in ecology and economics
• Stochastic dynamic models with stock-dependent rewards
• Stochastic optimal growth with nonconvexities

Cited in

(7)

• Probability of survival in a random exchange economy with dependent agents
• Optimality of Ramsey-Euler policy in the stochastic growth model
• Sustainable management of fossil fuels: a dynamic stochastic optimization approach with jump-diffusion
• Markovian paths to extinction
• Sustained positive consumption in a model of stochastic growth: the role of risk aversion
• On optimal extinction in the matchbox two-sector model
• Fifty years of mathematical growth theory: classical topics and new trends

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