Search Results - subject:"value function"

On the Use of Value Efficiency Analysis and Some Further Developments

Korhonen, Pekka; Soismaa, Margareta; Siljamäki, Aapo - In: Journal of Productivity Analysis 17 (2002) 1, pp. 49-64

assumption is that the most preferred values maximize the decision-maker's implicitly known value function in a production … inputs for reaching the indifference contour of the value function at the optimum. In this paper, we briefly review the main …

Persistent link: https://www.econbiz.de/10010988908

On the Use of Projection Methods in the Computation of OLG Models / Zur Berechnung von OLG-Modellen mit Hilfe von Projektionsmethoden

Heer, Burkhard; Trede, Mark - In: Jahrbücher für Nationalökonomie und Statistik 220 (2000) 1, pp. 32-47

Summary We compare projection methods with the standard value function grid algorithm in order to solve overlapping … dominate standard value function grid methods in terms of speed and required storage capacity. Furthermore, we apply projection … also solvable with the help of ordinary personal computers using projection methods, while the use of value function grid …

Persistent link: https://www.econbiz.de/10014608749

On the Use of Projection Methods in the Computation of OLG Models Zur Berechnung von OLG-Modellen mit Hilfe von Projektionsmethoden

Heer, Burhard; Trede, Mark - In: Journal of Economics and Statistics (Jahrbuecher fuer … 220 (2000) 1, pp. 32-47

We compare projection methods with the standard value function grid algorithm in order to solve overlapping generations … standard value function grid methods in terms of speed and required storage capacity. Furthermore, we apply projection methods … also solvable with the help of ordinary personal computers using projection methods, while the use of value function grid …

Persistent link: https://www.econbiz.de/10005027166

Optimal admission control for M/D/1/K queueing systems

Daduna, Hans; Knopov, Pavel S. - In: Computational Statistics 50 (1999) 1, pp. 91-100

For a single server loss system with finite waiting room with Poisson arrivals and deterministic service times we compute the optimal admission control rule when additionally to the queue length the residual service time is considered as a decision variable. The reward function is of a rather...

Persistent link: https://www.econbiz.de/10010847971

Optimal admission control for M/D/1/K queueing systems

Daduna, Hans; Knopov, Pavel S. - In: Mathematical Methods of Operations Research 50 (1999) 1, pp. 91-100

Persistent link: https://www.econbiz.de/10010950343

A Value Efficiency Approach to Incorporating Preference Information in Data Envelopment Analysis

Halme, Merja; Joro, Tarja; Korhonen, Pekka; Salo, Seppo; … - In: Management Science 45 (1999) 1, pp. 103-115

the Decision Maker's Most Preferred Solution maximizes his/her underlying (unknown) value function, we approximate the … indifference contour of the value function at this point with its possible tangent hyperplanes. Value Efficiency scores are then …

Persistent link: https://www.econbiz.de/10009218228

Chapter 5 Numerical solution of dynamic economic models

Santos, Manuel S. - In: Handbook of macroeconomics : volume 1, part A, (pp. 311-386). 1999

This chapter is concerned with numerical simulation of dynamic economic models. We focus on some basic algorithms and assess their accuracy and stability properties. This analysis is useful for an optimal implementation and testing of these procedures, as well as to evaluate their performance....

Persistent link: https://www.econbiz.de/10014024245

A general equilibrium world with price and quantity signals : a duality approach

Hilgers, Bodo; Wacker, Ulrich - 1999

Persistent link: https://www.econbiz.de/10013435979

The European unemployment problem in a globalized world : wage rigidities, welfare and involuntary low-skilled labour unemployment

Hilgers, Bodo; Wacker, Ulrich - 1999

Persistent link: https://www.econbiz.de/10013435980

Numerical Solution of Dynamic Economic Models

Santos, Manuel - Centro de Investigación Económica (CIE), Departamento … - 1998

This chapter is concerned with numerical simulation of dynamic economic models. We focus on some basic algorithms and study their accuracy and stability properties. This analysis is useful for an optimal implementation and testing of these procedures, as well as to evaluate their performance....

Persistent link: https://www.econbiz.de/10005151246