The analysis of the stochastic stability for an economic game

Details The analysis of the stochastic stability for an economic game The analysis of the stochastic stability for an economic game

2009-09-07

arxiv.org/abs/0909.1169v1

Mathematics

Dynamical Systems

16 pages, 8 figures

Scientific paper

In this paper we investigate a stochastic model for an economic game. To describe this model we have used a Wiener process, as the noise has a stabilization effect. The dynamics are studied in terms of stochastic stability in the stationary state, by constructing the Lyapunov exponent, depending on the parameters that describe the model. Also, the Lyapunov function is determined in order to analyze the mean square stability. The numerical simulation that we did justifies the theoretical results.

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