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Has dynamic programming improved decision making?

Rust, John - In: Annual review of economics 11 (2019), pp. 833-858

Persistent link: https://www.econbiz.de/10012623842

Optimal Task Assignments with Loss-Averse Agents

Balmaceda, Felipe - 2018

This paper studies optimal task assignments in a setting where agents are expectation-based loss averse according to KoszegiRabin (2006) and KoszegiRabin (2007) and are compensated according to an aggregated performance measure in which tasks are technologically independent. We show that the...

Persistent link: https://www.econbiz.de/10012927853

Resource allocation, computational complexity, and market design

Bossaerts, Peter L.; Bowman, Elizabeth; Fattinger, Felix; … - In: Journal of behavioral and experimental finance 42 (2024), pp. 1-20

Persistent link: https://www.econbiz.de/10014547375

An endogenous gridpoint method for distributional dynamics

Bayer, Christian; Luetticke, Ralph; Weiß, Maximilian; … - 2024

The "histogram method" (Young, 2010), while the standard approach for analyzing distributional dynamics in heterogeneous agent models, is linear in optimal policies. We introduce a novel method that captures nonlinearities of distributional dynamics. This method solves the distributional...

Persistent link: https://www.econbiz.de/10014553030

Generalized bounded rationality and robust multicommodity network design

Sun, Longsheng; Karwan, Mark H.; Kwon, Changhyun - In: Operations research 66 (2018) 1, pp. 42-57

Persistent link: https://www.econbiz.de/10011818591

A heuristic approach to explore : the value of perfect information

Shahrokhi Tehrani, Shervin; Ching, Andrew - In: Management science : journal of the Institute for … 70 (2024) 5, pp. 3200-3224

Persistent link: https://www.econbiz.de/10014551265

Risk-Adjusted Linearizations of Dynamic Equilibrium Models

Lopez, Pierlauro - 2018

We propose a simple risk-adjusted linear approximation to solve a large class of dynamic models with time-varying and non-Gaussian risk. Our approach generalizes lognormal affine approximations commonly used in the macro-finance literature and can be seen as a first-order perturbation around the...

Persistent link: https://www.econbiz.de/10012906892

Risk-Adjusted Linearizations of Dynamic Equilibrium Models

Lopez, Pierlauro - 2018

Persistent link: https://www.econbiz.de/10012937173

A model of boundedly rational consumer choice : an agent based approach

Riechmann, Thomas - 2000

Persistent link: https://www.econbiz.de/10001476021

Is there an optimization in bounded rationality? : The ratio of aspiration levels

Beckenkamp, Martin (contributor) - 2004

Simons̕ (1955) famous paper was one of the first to cast doubt on the validity of rational choice theory; it has been … supplemented by many more papers in the last three and a half decades. Nevertheless, rational choice theory plays a crucial role in … classical and neoclassical economic theory, which presumes a completely rational agent. The central points characterizing such …

Persistent link: https://www.econbiz.de/10002526505