| Project/Area Number |
15530123
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Economic theory
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| Research Institution | Kobe University |
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Principal Investigator |
KAMIHIGASHI Takashi Kobe University, RIEB, Professor, 経済経営研究所, 教授 (30324908)
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| Project Period (FY) |
2003 – 2006
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| Project Status |
Completed (Fiscal Year 2006)
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| Budget Amount *help |
¥2,400,000 (Direct Cost: ¥2,400,000)
Fiscal Year 2006: ¥600,000 (Direct Cost: ¥600,000)
Fiscal Year 2005: ¥600,000 (Direct Cost: ¥600,000)
Fiscal Year 2004: ¥600,000 (Direct Cost: ¥600,000)
Fiscal Year 2003: ¥600,000 (Direct Cost: ¥600,000)
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| Keywords | Discrete choice problem / Dynamic optimization / Business fluctuations / 離散選択 |
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| Research Abstract |
The purpose of this research is to study the relationship between discrete choice problems and business fluctuations. Discrete choice problems are important since many products in reality are indivisible.
In this research, it has been shown that at the individual level, discrete choice problems result in complex dynamics. A more precise statement of this result is as follows: Under quite general conditions, the optimal paths of deterministic infinite-horizon discrete-choice problems almost never converge to a steady state or a cycle.
In terms of techniques, in stead of dynamic programming, I have employed the approach of viewing an infinite horizon optimization problem as an optimization problem in an infinite dimensional space. By comparing the state space and the space of optimal paths, I have shown that optimal paths almost always exhibit complex dynamics.
I am in the process of preparing a paper based on the above result for publication in a journal.
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