The rapid growth in the performance of graphics hardware, coupled with recent improvements in its programmability has lead to its adoption in many non-graphics applications, including a wide variety of scientific computing fields. At the same time, a number of important dynamic optimal policy...

We embed learning (without experimentation) in optimal growth. We extend the Mirman-Zilcha results of stochastic optimal growth to the learning case. We use recursive methods to study the effect of learning on the dynamic program by considering the case of iso-elastic utility and linear...

The rapid growth in the performance of graphics hardware, coupled with recent improvements in its programmability has lead to its adoption in many non-graphics applications, including a wide variety of scientific computing fields. At the same time, a number of important dynamic optimal policy...

In this paper we propose and study a theory of adaptive consumption behavior under income uncertainty and liquidity constraints. We assume that consumption is governed by a linear function of wealth, whose coefficients are revised each period by a procedure that places few informational or...

The rapid increase in the performance of graphics hardware, coupled with recent improvements in its programmability has lead to its adoption in many non-graphics applications, including wide variety of scientific computing fields. At the same time, a number of important dynamic optimal policy...