Three methods have been developed by the authors for solving optimal experimentation problems. David Kendrick (1981, 2002, Ch.10) uses quadratic approximation of the value function and linear approximation of the equation of motion to simulate general optimal experimentation (active learning)...

The teaching of computational economics to graduate students has mostly been in a single course with a focus on algorithms and computer code. The shortcoming with this approach is that it neglects one of the most important aspects of computational economics - namely model development skills....