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 methods in most cases. For the initialization of the value …

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 methods in most cases. For the initialization of the value …

This paper is devoted to the study of the first-order behavior of the value function of a parametric discrete optimal … subdifferential of the value function of a parametric mathematical programming problem, we derive a formula for computing the … Mordukhovich subdifferential of the value function to a parametric discrete optimal control problem. Copyright Springer Science …

component of the value function if a given pair of criteria is in a positive synergy for performances of this alternative on the … two criteria. Similarly, a penalty is subtracted from the additive component of the value function if a given pair of … relations in the considered set of alternatives. A single representative value function can be calculated to attribute specific …

condition and the value function are both present in the constraints. Since the value function is in general nonsmooth, the …

our value function be the average of the individual estimations (signals) of all agents, a robust estimation of the … parameter. Under this simple value function, we select almost uniquely the mechanism that gives the seller the largest portion …