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Bellmans equation and differentiability of the value function
Extensions of the basic algorithm
1 other sections not shown
accuracy properties analysis approximating the Euler approximation error Christiano and Fisher computational cost Computational method computed policy function concavity constant CPU time Max cubic splines defined deterministic differentiability discount factor discretization domain dynamic programming algorithm economic models error bounds error in g estimates Euler equation residuals Example 7.3 fixed point framework function g g Max Gaussian quadrature grid Hence Hessian matrix implementation initial guess invariant distribution iteration process Iterations CPU Judd linear interpolation mapping Marcet matrix maximization and integration maximum Mesh size Iterations multigrid method Newton's method non-linear numerical algorithm numerical analysis numerical maximization numerical methods numerical model observed error one-period operator optimal solution optimization problem orders of convergence Parameter values parameterization PEA-collocation piecewise linear polynomial interpolation quadratic approximation return function Santos simple simulations smooth solving space spline interpolation stochastic growth model Table Theorem 6.1 tion TOLW value and policy value function variable Vertex points Mesh