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Authors: Gabriel Zacarías-Espinoza 1 ; Hugo Cruz-Suárez 2 and Enrique Lemus-Rodríguez 3

Affiliations: 1 Universidad Autónoma Metropolitana-Iztapalapa, Mexico ; 2 Benemérita Universidad Autónoma de Puebla, Mexico ; 3 Universidad Anahuac México-Norte, Mexico

Keyword(s): Ramsey’s Growth Model, Markov Decision Processes, Dynamic Programming, Euler Equation, Stability.

Related Ontology Subjects/Areas/Topics: Artificial Intelligence ; Dynamic Programming ; Knowledge Discovery and Information Retrieval ; Knowledge-Based Systems ; Mathematical Modeling ; Methodologies and Technologies ; Operational Research ; Optimization ; Resource Allocation ; Stochastic Processes ; Symbolic Systems

Abstract: In this paper we study a version of Ramsey’s discrete time Growth Model where the evolution of Labor through time is stochastic. Taking advantage of recent theoretical results in the field of Markov Decision Processes, a first set of conditions on the model are established that guarantee a long-term stable behavior of the underlying Markov chain.

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Paper citation in several formats:
Zacarías-Espinoza, G.; Cruz-Suárez, H. and Lemus-Rodríguez, E. (2016). A Stochastic Version of the Ramsey’s Growth Model. In Proceedings of 5th the International Conference on Operations Research and Enterprise Systems - ICORES; ISBN 978-989-758-171-7; ISSN 2184-4372, SciTePress, pages 323-329. DOI: 10.5220/0005752503230329

@conference{icores16,
author={Gabriel Zacarías{-}Espinoza. and Hugo Cruz{-}Suárez. and Enrique Lemus{-}Rodríguez.},
title={A Stochastic Version of the Ramsey’s Growth Model},
booktitle={Proceedings of 5th the International Conference on Operations Research and Enterprise Systems - ICORES},
year={2016},
pages={323-329},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0005752503230329},
isbn={978-989-758-171-7},
issn={2184-4372},
}

TY - CONF

JO - Proceedings of 5th the International Conference on Operations Research and Enterprise Systems - ICORES
TI - A Stochastic Version of the Ramsey’s Growth Model
SN - 978-989-758-171-7
IS - 2184-4372
AU - Zacarías-Espinoza, G.
AU - Cruz-Suárez, H.
AU - Lemus-Rodríguez, E.
PY - 2016
SP - 323
EP - 329
DO - 10.5220/0005752503230329
PB - SciTePress

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