Value function iteration is one of the standard tools for the solution of the Ramsey model. We compare six different ways of value function iteration with regard to speed and precision. We find that value function iteration with cubic spline interpolation between grid points dominates the other...

The aim of this paper is to solve the fixed point problems: $$ v=\mathcal{O}v,\quad \hbox{with}\, \mathcal{O}v(x) \mathop{=}^{\rm def} \max (Lv(x), Bv(x) ), x \in \varepsilon, \quad (1)$$ where $$\varepsilon$$ is a finite set, L is contractive and B is a nonexpansive operator and $$...

The aim of this paper is to solve the fixed point problems: <Equation ID="Equa"> <EquationSource Format="TEX">$$ v=\mathcal{O}v,\quad \hbox{with}\, \mathcal{O}v(x) \mathop{=}^{\rm def} \max (Lv(x), Bv(x) ), x \in \varepsilon, \quad (1)$$</EquationSource> </Equation> where <InlineEquation ID="IEq3"> <EquationSource Format="TEX">$$\varepsilon$$</EquationSource> </InlineEquation> is a finite set, L is contractive and B is a nonexpansive operator and <Equation ID="Equb"> <EquationSource Format="TEX">$$...</equationsource></equation></equationsource></inlineequation></equationsource></equation>