First, we propose a more efficient implementation of the Smolyak method for interpolation, namely, we show how to avoid … costly evaluations of repeated basis functions in the conventional Smolyak formula. Second, we extend the Smolyak method to …

We show how to enhance the performance of a Smolyak method for solving dynamic economic models. First, we propose a … more efficient implementation of the Smolyak method for interpolation, namely, we show how to avoid costly evaluations of … repeated basis functions in the conventional Smolyak formula. Second, we extend the Smolyak method to include anisotropic …