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Research on business fluctuations caused by discrete choice problems

Research Project

Project/Area Number 15530123
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field Economic theory
Research InstitutionKobe University

Principal Investigator

KAMIHIGASHI Takashi  Kobe University, RIEB, Professor, 経済経営研究所, 教授 (30324908)

Project Period (FY) 2003 – 2006
Project Status Completed (Fiscal Year 2006)
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)
KeywordsDiscrete choice problem / Dynamic optimization / Business fluctuations / 離散選択
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.

Report

(5 results)
  • 2006 Annual Research Report   Final Research Report Summary
  • 2005 Annual Research Report
  • 2004 Annual Research Report
  • 2003 Annual Research Report

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Published: 2003-04-01   Modified: 2016-04-21  

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