Avoiding the Curse of Dimensionality in Dynamic Stochastic Games

Ulrich Doraszelski, Kenneth L. Judd

Continuous-time stochastic games with a finite number of states have substantial computational and conceptual advantages over the more common discrete-time model. In particular, continuous time avoids a curse of dimensionality and speeds up computations by orders of magnitude in games with more than a few state variables. The continuous-time approach opens the way to analyze more complex and realistic stochastic games than is feasible in discrete-time models

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Year of publication:	January 2005
Authors:	Doraszelski, Ulrich
Other Persons:	Judd, Kenneth L. (contributor)
Institutions:	National Bureau of Economic Research (contributor)
Publisher:	Cambridge, Mass : National Bureau of Economic Research
Subject:	Stochastisches Spiel \| Stochastic game \| Dynamisches Spiel \| Dynamic game \| Theorie \| Theory

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