000030939 001__ 30939 000030939 005__ 20210803101440.0 000030939 0247_ $$2doi$$a10.22004/ag.econ.30939 000030939 037__ $$a1835-2016-148975 000030939 037__ $$a1835-2016-150136 000030939 041__ $$aeng 000030939 245__ $$aEXISTENCE OF UNIQUE LIMITING PROBABILITY VECTORS IN STOCHASTIC PROCESSES WITH MULTIPLE TRANSITION MATRICES 000030939 260__ $$c1992-12 000030939 269__ $$a1992-12 000030939 300__ $$a11 000030939 336__ $$aJournal Article 000030939 520__ $$aConcepts associated with stochastic process containing multiple transition matricies are discussed. It is proved that under certain conditions, a process with m transition matrices has m unique limiting probability vectors. This result extends the notion of discrete Markov processes to problems with intrayear and interyear dynamics. An example using a large DP model illustrates the usefulness of the concepts developed to applied problems. 000030939 546__ $$aEnglish 000030939 650__ $$aResearch Methods/ Statistical Methods 000030939 700__ $$aMjelde, James W. 000030939 700__ $$aHarris, Wesley D. 000030939 700__ $$aConner, J. Richard 000030939 700__ $$aSchnitkey, Gary D. 000030939 700__ $$aGlover, Michael K. 000030939 700__ $$aGaroian, Lee 000030939 773__ $$q303$$o313$$tJournal of Agricultural and Resource Economics$$j17$$k2$$dDecember 1992 000030939 8564_ $$97c8eab5e-b756-4fb1-b58b-ece808579888$$s839016$$uhttps://ageconsearch.umn.edu/record/30939/files/17020303.pdf 000030939 887__ $$ahttp://purl.umn.edu/30939 000030939 909CO $$ooai:ageconsearch.tind.io:30939$$pGLOBAL_SET 000030939 912__ $$nMade available in DSpace on 2007-03-07T17:02:25Z (GMT). No. of bitstreams: 1 17020303.pdf: 839016 bytes, checksum: 8d1c426c981d465f32066ee68af1be38 (MD5) Previous issue date: 1992-12 000030939 980__ $$a1835 000030939 982__ $$gJournal of Agricultural and Resource Economics>Volume 17, Number 02, December 1992