Introduction -- Decision Problems and Decision-Making Procedures: Decision Problems -- Goal and Problem-Finding Systems as Requirements for the Discovery of Decision Problems -- Rational Problem-Solving -- Problem-Solving Procedure -- A General Heuristic Problem-Solving Procedure: Overview of...

This paper proposes a new approach to numerically solving a wide class of heterogeneous agent models in continuous time using adaptive sparse grids. I combine the sparse finite difference method with the sparse finite volume method to solve the Hamilton-Jacobian-Bellman equation and Kolmogorov...