A Rapid Grid Search Method for Solving Dynamic Programming Problems in Economics

We introduce a rapid grid search method in solving dynamic programming problems in economics. Compared to mainstream grid search methods, by using local information of the Bellman equation, this method can significantly increase the efficiency in solving dynamic programming problems by reducing the grid points searched in the control space.

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Year of publication:	2013
Authors:	He, Hui ; Zhang, Hao
Published in:	Frontiers of Economics in China. - Higher Education Press, ISSN 1673-3568. - Vol. 8.2013, 2, p. 260-271
Publisher:	Higher Education Press
Subject:	dynamic programming \| Bellman equation \| grid search \| concavity \| searching efficiency

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Extent:	application/pdf
Type of publication:	Article
Classification:	C02 - Mathematical Methods ; E13 - Neoclassical ; E27 - Forecasting and Simulation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010888552