Envelope condition method versus endogenous grid method for solving dynamic programming problems

  1. Lilia Maliar 1
  2. Serguei Maliar 1
  1. 1 Stanford University; Universitat d'Alacant
Aldizkaria:
Working papers = Documentos de trabajo: Serie AD

Argitalpen urtea: 2013

Zenbakia: 7

Orrialdeak: 1-15

Mota: Laneko dokumentua

DIALNET GOOGLE SCHOLAR lock_openSarbide irekia editor

Laburpena

We introduce an envelope condition method (ECM) for solving dynamic programming problems. The ECM method is simple to implement, dominates conventional value function iteration and is comparable in accuracy and cost to Carroll’s (2005) endogenous grid method. Codes are available

Datuen iturria: Dialnet