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Empirical distributions

When models have no dynamics, the states of agents are the same as the choices they make. We keep track of the population composition of agents by types, which are the same as the decisions they make, namely, the demo­graphy of the population of n agents according to their decisions. For this purpose we use the empirical distributions. We denote the set of states by

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Source: Aoki M.. Modeling Aggregate Behaviour & Fluctuations in Economics. Cambridge: Cambridge University Press,2002. — 281 p.. 2002

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