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This paper considers an alternative way of structuring stochastic variables in a dynamic programming framework where the model structure dictates that numerical methods of solution are necessary. Rather than estimating integrals within a Bellman equation using quadrature nodes, we use nodes...
Persistent link: https://www.econbiz.de/10012968342
Persistent link: https://www.econbiz.de/10011398116
This paper considers an alternative way of structuring stochastic variables in a dynamic programming framework where the model structure dictates that numerical methods of solution are necessary. Rather than estimating integrals within a Bellman equation using quadrature nodes, we use nodes...
Persistent link: https://www.econbiz.de/10011783516
Persistent link: https://www.econbiz.de/10013389436