Ergodic chaos, learning and sunspot equilibrium |
| |
Authors: | Aloisio P. Araujo Wilfredo L. Maldonado |
| |
Affiliation: | EPGE/FGV and IMPA, Caixa Postal 34021 Jardim Botanico, CEP 22470-050, RJ, BRASIL, BR Departamento de Economia, Universidade Federal Fluminense, Rua Tiradentes 17, Niterói, CEP 24210-510, RJ, BRASIL (e-mail: willy@impa.br), BR
|
| |
Abstract: | Summary. In this paper we construct sunspot equilibria that arise from chaotic deterministic dynamics. These equilibria are stationary and have absolutely continuous stationary measures. We prove that they can be learned by a simple rule based on the histograms of past state variables. This work gives a theoretical justification for complex deterministic models that might compete with stochastic models to explain real data. Also we prove the stochastic stability of the indeterminate equilibrium. |
| |
Keywords: | |
本文献已被 SpringerLink 等数据库收录! |
|